Friday, April 16, 2010

The National Bureau of Economic Research Dating Committee Report

No, this report has nothing to do with how many single people are going out on dates or how the economy has affected the amount of money spent on dates. Actually, the National Bureau of Economic Research Business Cycle Dating Committee determines when U.S. economic expansions and recessions exactly begin and end.

Their report stated that they still don't know if we are out of the recession trough yet. They did say that the recession officially began in November 2007.

When I was in college, we learned that recessions couldn't last longer than a year. As a matter of fact, a one quarter downturn of the Gross Domestic Product (called the Gross National Product back then) was considered a correction, a two or three quarter drop was a recession, and four quarters or more was a depression.

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