The recession dating committee has called the end of the recession :. It's important to note that this is an attempt to identify the trough of the recovery. It does not say we have recovered, only that we've turned the corner, and it doesn't say anything about how long it will take to reach full employment. Is the date correct? An examination of recent data does reveal a "fishhook" shape, though the part of the hook with the barb is pretty short.
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National Bureau of Economic Research
Business Cycle Dating Committee Announcement June 8, | NBER
A recession is the period between the peak and a trough. A recovery is the period between a trough and a peak. A recession is a period of significant decline in economic activity spread across the economy, lasting more than a few months and normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales. Similarly, during an expansion, economic activity rises substantially and spreads across the economy. In both recessions and expansions, brief reversals in economic activity may occur — a recession may include a short period of expansion followed by further decline; an expansion may include a short period of contraction followed by further growth. The Business Cycle Dating Committee does not have a fixed definition of economic activity.
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NBER: The Recession Ended in June 2009
Stock and Mark W. Watson and James H. Stock corresponding and Mark W.
Data in this graph are copyrighted. Please review the copyright information in the series notes before sharing. Source: Federal Reserve Bank of St.
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