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Politics : PRESIDENT GEORGE W. BUSH
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To: Kenneth E. Phillipps who wrote (234903)3/7/2002 11:10:23 AM
From: DavesM  Read Replies (2) of 769670
 
Kenneth,

The National Bureau of Economic Research decided that a recession started in March of 2001, and that makes it official.

nber.org

"The NBER does not define a recession in terms of two consecutive quarters of decline in real GNP. Rather, a recession is a period of significant decline in total output, income, employment, and trade, usually lasting from six months to a year, and marked by widespread contractions in many sectors of the economy."
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