If by a "year" you mean "a few months," then yes.
In about Septemberish the economy was "the worst it had been since 2001." Now the economy is the worst it has been since the mid to late 80's.
One of the nice things about Obama's presidency is that people have more faith in his ability to handle the economy than they had in Bush. Totally setting aside actual comparative abilities, that is no small advantage, given that economic health is largely (but not totally) a mental state.