Recession Ended in June 2009
Wall Street Journal / Phil Izzio
20-Sep-2010 (3 comments)

The National Bureau of Economic Research, the arbiter of the start and end dates of a recession, determined that the recession that began in December 2007 ended in June 2009.

The business-cycle dating committee met by phone on Sunday and came to the determination. “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. Rather, the committee determined only that the recession ended and a recovery began in that month,” the committee said in a statement. The 2007-2009 recession is the longest in the post-WWII period. (Read related article.)

The decision by the NBER means that any future downturn in the economy would be considered a new recession and not a continuation of the recession that began in 2007.

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varjavand

Economic Recession

by varjavand on Mon Sep 20, 2010 09:52 AM PDT

National Bureau of Economic Research, NBER, one of the two sources of declaration of business cycles has finally determined that the recession which started in December 2007 was ended in June 2009, Happy recovery! I hope you are not as perplexed as I am.



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varjavand

Ayatoilet

by varjavand on Mon Sep 20, 2010 01:48 PM PDT

You are right, recession is not over until you and your neighbors get your jobs back


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Ayatoilet

IF THEY ARE RIGHT, IT IS STILL VERY SHAKY

by Ayatoilet on Mon Sep 20, 2010 12:44 PM PDT

With continuing drop in incomes and extended unemployment, if the recession did indeed start December of 2007 as they are claiming now, then we would be technically in a depression by December of 2010. It is a more reliable measure of economic well being to look at ones own pocket.


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