Explained: Defining recessions
Wednesday, September 29, 2010 - 08:22
in Mathematics & Economics
The recent recession, the longest since The Great Depression, lasted from December 2007 until June 2009, according to a Sept. 20 announcement from the National Bureau of Economic Research (NBER), the pre-eminent group calibrating the duration and depth of U.S. downturns. The way the NBER renders such verdicts, however, is often overlooked.