The committee places less emphasis on monthly data series for industrial production and manufacturing-trade sales, because these refer to particular sectors of the economy.
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The basis for this decision was the length and strength of the recovery to date.
CAMBRIDGE September 20, 2010 - The Business Cycle Dating Committee of the National Bureau of Economic Research met yesterday by conference call. The trough marks the end of the recession that began in December 2007 and the beginning of an expansion.
At its meeting, the committee determined that a trough in business activity occurred in the U. The recession lasted 18 months, which makes it the longest of any recession since World War II.
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The trough marks the end of the declining phase and the start of the rising phase of the business cycle.