NBER: U.S. recession officially ended June 2009

WASHINGTON (MarketWatch) — The following is the statement from the National Bureau of Economic Research on the ending of the recession:

“The Business Cycle Dating Committee of the National Bureau of Economic Research met yesterday by conference call. At its meeting, the committee determined that a trough in business activity occurred in the U.S. economy in June 2009. The trough marks the end of the recession that began in December 2007 and the beginning of an expansion. The recession lasted 18 months, which makes it the longest of any recession since World War II. Previously the longest postwar recessions were those of 1973-75 and 1981-82, both of which lasted 16 months.

http://www.marketwatch.com/story/nbers-statement-on-recessions-end-2010-09-20

 

Yay?

 

This hurts Obama's claim that his stimulus did the job.
This credit now should back to Bush.

 

Bwahhahahahahahahahahahahahahhahahahahahahahahahahahaha,,

ohh, let me catch my breath.....bwhahahaahahahahahahahahahaahahaha


yea, ok, bwahahahahaahahahahahahahahahaha

Gota love the propaganda.......

 

Another quick recession came and went after the biggest credit crisis in history, if this is true everyone around the world should welcome continuous recessions.

 

ISM plays a key factor in this. Didn't it rise above 50 around that time?

 

Maybe, but these "calls" by the NBER are pretty subjective I believe. I don't think they take a weighted score of a bunch of economic data numbers or anything. Housing and employment should certainly offset some of the better data...

 

that means, doomsday begins

 

yes ISM did raise above 50.

But 70% of the GDP is Consumer Spending, not Manufacturing.

Unemployment is holding, yeah right, at 9.6%.

So, yes, Manufacturing is slowly rebounding. But the GDP is not, consumer spending is not and we are still loosing 450k jobs per week.

Cotton, Agi's are rising, CPI is showing slight inflation.

The Stock Market is rallying but many are no longer in it, or they have stop'd contributing.

Wallstreet profits via Private Equity and over all M/A are grinding to a hault.

Housing may have bottom, but not much building in most of the country.

Commerical RE is still at high levels of Empty Space.

BANKS ARE NOT LENDING BUSINSSNESS LOANS on a WIDE RANGE.

and SOCIALIST WANT TO RAISE, opps i mean let the Bush Tax breaks end.

The MONEY is flowing along with the JOBs outa this country.


So, yeah, I believe the RECESSION IS OVER....FUCK NO!

 

This is strictly statistical: it just means the economy stopped contracting. It doesn't mean it's expanding like gangbusters or anything.
However, also today: WTO sees record trade growth of 13.5 pct this year
Down is faster, and is therefore almost always over more quickly, than up.