Most of the world has recently come out of the worst of the Great Depression that began in 1873. The main cause of the collapse in the USA was the sudden drop of railroad construction going West, followed by the equine influenza in 1872, the Panic of 1869, and demonetization of silver in 1873. The CSA was still recovering from the War Between the States and the loss of Texas in 1870 when the railroad industry collapsed, causing a major drop in employment in an already fragile system. Texas has suffered the least, as they were not reliant on the railroad industry and with completed rail lines going into Deseret (which was unaffected by the Depression) trade of cotton and beef continued.
Increased trade, and a renewed railroad industry has allowed North America to recover.
Real Historcial Note - The Panic of 1873 was called "The Great Depression" until the financial crisis of the late 1920's and early 1930's when it was renamed the Panic of 1873 and the true Great Depression began.