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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?
Many of the ingredients of the quarterly GDP figures are published at a monthly frequency by government agencies.Q: Why doesn't the committee accept the two-quarter definition?A: The committee's procedure for identifying turning points differs from the two-quarter rule in a number of ways.In that cycle, as well, the dating of the trough relied primarily on output measures.Q: Isn't a recession a period of diminished economic activity?