Monday, December 01, 2008

Recession began a year ago, economists say - MarketWatch:

The U.S. economy entered a recession in December 2007, a committee of economists at the private National Bureau of Economic Research said Monday.

The economy reached a peak of activity in December 2007 and has been declining since, according to the business cycle dating committee of the NBER.

The government, academics and the private sector generally defer to the NBER's judgments about recessions.

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