Recession Ended in June 2009
Quote:
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.
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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from WSJ
Does their decision to call any future downturn a "new" recession really mean anything? I can see where the GOP would like that politically, but it seems wrong to me. With the current unemployment rate and the housing market still extremely volatile, it would seem logical that it would be related instead of new.