War production was cut back hugely from the spring of 1945, and the peak GDP of the previous year wasn't matched until 1951. The War Department cancelled contracts worth nearly $23 billion in August 1945 alone, and 2.5 million workers were released from war jobs in the first month of peace. GDP was down by 11% in 1946 as the economy reconverted to peacetime. Some projects of course continued, the Bomb being the obvious one, though even its production was scaled back after VJ-Day.

The cutback in war output was fairly decisive, probably sufficient to rate as "shock therapy" in later parlance had the growth of arms production not been a temporary emergency measure in the first place. The scaledown of 1945-46 was genuine, its later reversal the result of an international deterioration that on this evidence doesn't seem to have been a major expectation at the war's end.

For the Navy at least no.

From about 1936ish on with the breakdown int he Treaty system and the passing of the Vinson Navy Acts (Also called the 2 Ocean Navy Acts) the USN was giving out contracts to build as fast as they could essentially.

But in 1945 virtually everything came to a halt, many many ships that were even half complete were never finished and new designs cancelled like half the MIDWAY class Carriers and MONTANA Battleships. So for one of the most industry reliant sectors of he DoD building programs after WW2 were much smaller than they had been before the war. Simply because there were so many ships already and the ensuing inter service rivalries and contention by the new USAF that conventional arms were not needed in the nuclear age.