Transportation Industry
Economics panel not ready to declare that U.S. recession has already ended
Transport Topics, January, 2003 by Anonymous
The Business Cycle Dating Committee of the National Bureau of Economic Research said on its Web site Jan. 13 that it was not vet ready to declare the U.S. recession over, based on poor employment reports from the final two months of 2002.
The NBER panel is the generally accepted arbiter of the nation's business cycles, and its judgment of whether overall economic activity is expanding can vary from the conventional view that looks only at gross domestic product growth rates.
"Recent data confirm our earlier conclusion that additional time is needed to be confident about the interpretation of the movements of the economy last year and this year," the committee said.
The group is waiting for employment reports to show a trough in unemployment data before it...
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