US Business Cycle Expansions and Contractions ¹pdf version Contractions (recessions) start at the peak of a business cycle and end at the trough. Please also see:
Press citations on NBER Business Cycles
Source: NBER The determination that the last expansion began in June 2009 is the most recent decision of the Business Cycle Dating Committee of the National Bureau of Economic Research.Announcement dates: The June 2009 trough was announced September 20, 2010.The December 2007 peak was announced December 1, 2008. The November 2001 trough was announced July 17, 2003. The March 2001 peak was announced November 26, 2001. The March 1991 trough was announced December 22, 1992. The July 1990 peak was announced April 25, 1991. The November 1982 trough was announced July 8, 1983. The July 1981 peak was announced January 6, 1982. The July 1980 trough was announced July 8, 1981. The January 1980 peak was announced June 3, 1980. Other Related Press Releases: April 12, 2010January 7, 2008 October 21, 2003 December 21, 1990 December 31, 1979 October 25, 1979 July 27, 1979 Prior to 1979, there were no formal announcements of business cycle turning points. The NBER does not define a recession in terms of two consecutive quarters of decline in real GDP. Rather, a recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales. For more information, see the latest announcement from the NBER's Business Cycle Dating Committee, dated 9/20/10. Source:
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