Their analysis of when a recovery starts looks for turning points: when unemployment stops climbing, when growth stops plunging, when industrial production starts rising again.
Monday, April 21, 2014
How the NBER Determines When Recessions End
The National Bureau of Economic Research, the semi-official arbiter of recessions in the U.S., defines recessions as periods when a significant decline in economic activity, spread across the economy, lasts more than a few months, as measured by real gross domestic product, real income, employment, industrial production and retail sales.
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