The chart shows the periods of expansion and recession for the Composite Coincident Indicator Index from 1959 to 2002.This index, published by The Conference Board ( moves very closely in line with current economic conditions.This recession ended a ten-year period of expansion in the national economy, the longest expansion in U. history according to the National Bureau of Economic Research (NBER). A private, nonprofit, nonpartisan research organization founded in 1920, the NBER is dedicated to understanding how the economy works.Official business cycle dates—the peaks and troughs in the economy that define recessions and expansions—in the U. Today it has over 600 university professors and researchers who conduct empirical research on the economy as Bureau associates.April 2009 marked a clear trough in industrial production, following the peak in January 2008.
The policy response to these various challenges required, and still requires, a proper identification of the business cycle.The designation of a recession is the province of a committee of experts at the National Bureau of Economic Research (NBER), a private non-profit research organization that focuses on understanding the U. Therefore, while negative GDP growth and recessions closely track each other, the consideration by the NBER of the monthly indicators, especially employment, means that the identification of a recession with two consecutive quarters of negative GDP growth does not always hold.For information on recession, or business-cycle, dating, see: | We won't be able to contact you if it is incorrect. | This helps stop malicious programs from using this site to generate SPAM email.During expansions, the economy, measured by indicators like jobs, production, and sales, is growing–in real terms, after excluding the effects of inflation.Recessions are periods when the economy is shrinking or contracting.