Business cycle dating committee of the national bureau of economic
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WASHINGTON (Market Watch) — The following is the statement from the National Bureau of Economic Research on the ending of the recession: “The Business Cycle Dating Committee of the National Bureau of Economic Research met yesterday by conference call. The trough marks the end of the recession that began in December 2007 and the beginning of an expansion.At its meeting, the committee determined that a trough in business activity occurred in the U. The recession lasted 18 months, which makes it the longest of any recession since World War II.
The chronology identifies the dates of peaks and troughs that frame economic recession or expansion.Previously, the committee had determined that the economy reached a peak of activity in July 1990.The eight-month period between July 1990 and March 1991 is a recession in the NBER's chronology.Identifying the date of the trough involved weighing the behavior of various indicators of economic activity.The estimates of real GDP and GDI issued by the Bureau of Economic Analysis of the U. Department of Commerce are only available quarterly.There is no fixed rule about what weights the committee assigns to the various indicators, or about what other measures contribute information to the process.
The committee concluded that the behavior of the quarterly series for real GDP and GDI indicates that the trough occurred in mid-2009.December 22, 1992 CAMBRIDGE, December 22, 1992 -- The Business Cycle Dating Committee of the National Bureau of Economic Research met by conference call yesterday. In its meeting, the committee determined that the U. economy reached a trough of activity in March 1991. business cycle that is widely used in the analysis of business conditions.Previously the longest postwar recessions were those of 1973--82, both of which lasted 16 months.In determining that a trough occurred in June 2009, the committee did not conclude that economic conditions since that month have been favorable or that the economy has returned to operating at normal capacity.The committee noted that the broadest measure of economic activity -- gross domestic product in constant dollars -- had finally surpassed its previous peak by the third quarter of 1992.