NBER Declares Recession Over

NBER Declares Recession Over - Recession officially ended...

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Recession officially ended in June 2009 By Chris Isidore, senior writerSeptember 20, 2010: 4:00 PM ET NEW YORK (CNNMoney.com) -- The Great Recession ended in June 2009, according to the body charged with dating when economic downturns begin and end. But the news is little comfort to the millions of Americans still out of work, underwater on their mortgages or uncertain about the future . The National Bureau of Economic Research, an independent group of economists, released a statement Monday saying economic data now clearly point to the economy turning higher last summer. That makes the 18-month recession that started in December 2007 the longest and deepest downturn for the U.S. economy since the Great Depression. Still, weaker economic data over the past few months have led to rising fears of a double-dip recession. The forecast of top economists surveyed recently by CNNMoney was that there is a 25% risk of a double-dip recession within the next year, up from a 15% chance just six months ago. In its statement, the NBER acknowledged the risk, but said "the committee decided that any future downturn of the economy would be a new recession and not a continuation of the
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NBER Declares Recession Over - Recession officially ended...

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