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The NBER, a private economic research organization, defines an economic recession as: "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". [16]
The recession of 2020, was the shortest and steepest in U.S. history and marked the end of 128 months of expansion. Key Predictors, Indicators and Warning Signs of a Recession
A recession begins when the economy reaches a peak of economic activity and ends when the economy reaches its trough. Economic Recessions in the U.S. Recessions are a normal part of the business ...
[4] [5] Whereas a recession is defined as two consecutive quarters of decline in GDP, [6] economic recovery and prosperity are two successive phases of expansion. Economic expansion can be affected by external factors such as technological changes or weather conditions, [7] or by internal factors such as a country's fiscal policy, [8] monetary ...
An expansion is the period from a trough to a peak and a recession as the period from a peak to a trough. The NBER identifies a recession as "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". [26]
Our last true recession lasted about 18 months, from late 2007 through mid-2009, triggered by the housing market collapse. It took about six years for the economy to recover to pre-recession ...
Economists commonly use the term recession to mean either a period of two successive calendar quarters each having negative growth [clarification needed] of real gross domestic product [1] [2] [3] —that is, of the total amount of goods and services produced within a country—or that provided by the National Bureau of Economic Research (NBER): "...a significant decline in economic activity ...
The NBER officially calls U.S. recessions, and data from Bank of America shows why this group won't be in a rush to declare the U.S. economy in recession.