Recession Recovery Indicators
The National Bureau of Economic Research defines a recession as a period of significant decline in total output, income, employment, and trade, usually lasting six months to one year and marked by widespread contractions in many economic sectors. The NBER, which dates both the beginning and the end of these events, has not officially announced the end of the current recession, which began in March 2001. Many, however, have put it as early as December 2001.
Suggested citation: "Recession Recovery Indicators," Federal Reserve Bank of Cleveland, Economic Trends, no. 02-06, pp. 13, 06.01.2002.