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The time in between is a recession, a period when economic activity is contracting. As of September 2010, when we decided that a trough had occurred in June 2009, the economy was still weak, with lingering high unemployment, but had expanded considerably from its trough 15 months earlier.Q: How do the movements of unemployment claims inform the Bureau's thinking?A: Most of the recessions identified by our procedures do consist of two or more quarters of declining real GDP, but not all of them.In 2001, for example, the recession did not include two consecutive quarters of decline in real GDP.
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Disclaimer: By necessity, not all of the answers provided are complete and exhaustive. A fresh and accurate approach to questions such as: “Is the unborn human less than human? How can you still be a friend to someone you know that has a “reputation”, while keeping your reputation pure and blameless?
Although all Christian Answers Network Team Member organizations are in close general agreement in their interpretation of the Bible, the individual views expressed are, of course, those of the authors, and do not necessarily represent the views of all Team organizations. ”, “Doesn’t a woman have the right to control her own body? Ministerial Employment—How can I use the Internet to find a new job in ministry?
Q: The financial press often states the definition of a recession as two consecutive quarters of decline in real GDP.
How does that relate to the NBER's recession dating procedure?
A: It's more accurate to say that a recession–the way we use the word–is a period of diminishing activity rather than diminished activity.