The ‘R’ word is now official

Posted on

The United States has been in recession since last December, confirming what many already have thought about the economy.

When the economy peaked in December 2007, it marked the end of the expansion that began in November 2001, according to the National Bureau of Economic Research. The expansion lasted 73 months, compared to the 120-month expansion in the 1990s, according to the NBER.

The NBER’s Business Cycle Dating Committee, which met last Friday via conference call, based its assessment primarily on domestic production and employment levels. Employment peaked in December 2007 and has been declining every month since. Production levels began falling in the last quarter of 2007, rose slightly in the first two quarters of 2008, and began falling again in the third quarter.

The Dow Jones Industrials average fell almost 700 points yesterday, wiping out more than half of last week’s gains. The U.S. markets are expected to rise slightly today, following a now-familiar pattern of snapping back after a huge sell-off.

Click on the links below for commentary on yesterday’s announcement.

Wall Street Journal
CNN/Money
Boston Globe
New York Times
USA Today

Welcome to TradeOnlyToday’s premium content! To continue reading, please register now, for access to 10 free stories per month. Or subscribe, for unlimited access to all TradeOnlyToday content!

Click here to Register ... it's free!

Basic subscription: Registered members get free access to 10 premium content stories each month!

Not a member yet? Click here to Register!

Already a member? Click here to Login!

Subscribe ... for unlimited access!

Individual subscription: $29 for unlimited site access for one year.

Small Business subscription: $140 for unlimited site access for up to 10 members of a company for one year.

Corporate subscription: $300 for unlimited site access for all members of a company for one year.

You may close this dialog after seconds.

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Comments are moderated and generally will be posted if they are on-topic and not abusive. For more information, please see our Comments Policy.

Vote Today

What is the best outcome for the marine industry in the November mid-term elections?

View Results

Loading ... Loading ...

Search Boats for Sale

Length
Year
Price

Login to Trade Only Today

Lost Password