US recession ended in June 2009: NBER

09:48, September 21, 2010      

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The US economic recession ended in June 2009, making it the longest downturn since the Great Depression of the 1930s, the National Bureau of Economic Research said Monday.

The NBER, considered the arbiter of US recessions, said it chose that month based on an examination of data, including gross domestic product, employment and personal income.

The group's business cycle dating committee, composed of academic economists, is notorious for taking its time in declaring the start and end of recessions.

The committee said it waited to make its decision this time because it wanted to review revised data on national income, released August 27, to get a clearer reading on the path of economic output in 2009.

In April, the NBER declined to call the end of the recession, and some of its members said at the time that they were concerned the economy could dip back into negative territory. In Monday's announcement, the NBER said any fresh downturn would mark a new recession, not a continuation of the one that began in December 2007.

US officials have been struggling to find a way to speed up a sluggish recovery. The US Federal Reserve's policy-setting committee will meet today, and it is widely expected to discuss whether additional measures are warranted to bolster the economy.

Source: Global Times

(Editor:黄蓓蓓)

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