Posted on 21/07/03
When is a U.S. recession not really a recession?
T he recession in the United States is over. In fact, it ended 20 months ago, having lasted only eight months -- from March to November of 2001.That's about as official as it gets, since the word came last week from the National Bureau of Economic Research, a Harvard University-based institution that has been in the business of recession-dating for decades. It is widely regarded as the semi-official arbiter of when the U.S. economy is in recession or not.
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