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To: StanX Long who wrote (63627)	5/10/2002 3:18:25 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Economists see signs recession over But NBER business-cycle dating committee not ready to declare formal end. May 9, 2002: 4:27 PM EDT money.cnn.com NEW YORK (CNN/Money) - The research group that declares the start and end of U.S. economic recessions said Thursday that it saw some signs the latest recession may be over, but was not ready to formally declare that a new expansion had begun. The National Bureau of Economic Research's business-cycle dating committee noted that payroll employment, its most important measure of economic activity, seemed to have stabilized in the first four months of 2002, pointing to the possibility that the recession that began in March 2001 is over. "At some future date, the committee will determine the date of a trough in activity," it said in a statement. "The trough date will mark the end of the recession. The committee will not issue any judgment about whether the economy has reached a trough until it makes its formal decision on this point." The NBER committee -- which includes one of the latest nominees for the Federal Reserve Board, Princeton economist Ben Bernanke -- defines a recession as "a significant decline in activity spread across the economy, lasting more than a few months, visible in industrial production, employment, real income, and wholesale-retail sales."