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Nber recession dating committee

The committee has determined that a peak in monthly economic activity occurred in the US economy in February The peak marks the end of the expansion that began in June and the beginning of a recession. The expansion lasted months, the longest in the history of US business cycles dating back to The previous record was held by the business expansion that lasted for months from March to March

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Reference date (United States business cycles)

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Reference date (United States business cycles) - Wikipedia

France 24 is not responsible for the content of external websites. In most countries, two successive quarters of GDP decline qualify as a recession — but not in the United States, where an independent body of eight economists called the Business Cycle Dating Committee makes such a determination. The GDP of the world's largest economy fell at a 0. In many countries, this would prompt the government to announce that the economy had entered a recession. But not in the United States.

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The economy may look like it's in recession, but we still don't know for sure

The second-quarter GDP report brought the economy in line with a common definition of recession. But we won't know for sure if it officially is declared one at least for months. That's because the official arbiter in such matters is the Business Cycle Dating Committee of the National Bureau of Economic Research, and it doesn't use the same definition as the one commonly accepted of at least two consecutive quarters of negative growth.

The committee has determined that a trough in monthly economic activity occurred in the US economy in April The previous peak in economic activity occurred in February The recession lasted two months, which makes it the shortest US recession on record. The NBER chronology does not identify the precise moment that the economy entered a recession or expansion. Because the most recent trough was in April , the last month of the recession was April , and May was the first month of the subsequent expansion.