The National Bureau of Economic Research (NBER) issued a statement on Monday that confirms their finding that the Great Recession ended in June 2009. The findings show that the recession, which began in December 2007, was the longest down-slide the U.S. economy has seen since the Great Depression.
The news hit at a time that concerns are raised about a double-dip recession hitting the economy. The NBER did acknowledge this concern. But they stated that any future impact on the economy would be a separate occurrence, not a continuation of the recession the country has already been through.
The results, according to the committee, do not show a strong economy or one that is running at normal strength. However it shows that the economy reached a bottom point in June of 2009 and has since been climbing upwards.
It generally takes a while for the NBER to determine the beginning or end of a recession. They wait for any data on the economy to be revised and final before they make a determination. It took over a year to declare December 2007 as the starting point for the recession.
The factors the NBER uses to determine the state of the economy include monthly data on gross domestic product, employment, industrial production, income and sales. While many of those had been showing some slight growth, they now appear to be weakening, which leads to the current fears of a double-dip or second recession.