Business cycle dating committee defines a recession is a period

The BCDC patiently assesses business cycle peaks and troughs. For example, they announced that the trough of the recession occurred in June only on September 20, —which is a lag of 15 months. The BCDC also emphasizes economywide economic indicators. Corporate profits will be reported in the second estimate of GDP, scheduled for release on November Over time, the BCDC has examined several comprehensive monthly indicators, such as real manufacturing and trade sales, nonfarm payroll employment, and civilian employment.
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Guide to Economic Recession

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Business Cycle Dating | NBER

Unemployment rate. NBER-dated recessions in gray. Business Cycle Dating Committee Announcements. Register for future Business Cycle announcements account log-in or creation required. The chronology identifies the dates of peaks and troughs that frame economic recessions and expansions.
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The business cycle dating committee defines a recession as

The chronology identifies the dates of peak and trough months in economic activity. The peak is the month in which a variety of economic indicators reach their highest level, followed by a significant decline in economic activity. Similarly, a month is designated as a trough when economic activity reaches a low point and begins to rise again for a sustained period. A: The NBER's traditional definition of a recession is that it is a significant decline in economic activity that is spread across the economy and that lasts more than a few months.
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