Good news! Not only is the Great Recession over, but it's been over for 15 months, the National Bureau of Economic Research said today.
Although this announcement may seem a little tone deaf -- like Geithner's Welcome To The Recovery op-ed -- the truth is in the numbers.
The economy hit trough in June 2009, based on 10 NBER indices. The recovery has slowed since then, but it would take a lot before reaching a technical double dip.
Although this announcement may seem a little tone deaf -- like Geithner's Welcome To The Recovery op-ed -- the truth is in the numbers.
The economy hit trough in June 2009, based on 10 NBER indices. The recovery has slowed since then, but it would take a lot before reaching a technical double dip.
The Macroeconomic Advisers monthly GDP chart hit a trough in June '09
NBER's own Stock-Watson Index of GdP hit a trough in June '09
Image: NBER
NBER's own Stock-Watson Index of gross domestic income hit a trough in July '09
Image: NBER
Stock-Watson GDI-GDP Index averages hit a trough in June '09
Image: NBER
NBER's Real Manufacturing and Trade Sales Index hit the trough in June '09
Image: NBER
The Fed Index of Industrial Production hit a trough in June '09
Image: NBER
Real Personal Income Less Transfers hit a trough in October '09
Image: NBER
Aggregate Hours Worked Hit a trough in October '09
The Payroll Survey of employment hit a trough in December '09
Image: NBER
The Household Employment Survey hit the trough in December '09
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