Nber business cycle dating
The upward and downward movements indicate specific phases of the business cycle.The upward slope of the business cycle is called economic expansion.Business cycles are the "ups and downs" in economic activity, defined in terms of periods of expansion or recession.During expansions, the economy, measured by indicators like jobs, production, and sales, is growing--in real terms, after excluding the effects of inflation.More episodes: • The Economic Lowdown Podcast Series • The Economic Lowdown Video Series Subscribe to the Economic Lowdown Podcast Series on i Tunes and Stitcher. Some coasters are mild, kiddy rides that never really go that high.
How do NBER recessions differ from the common description of a recession as, "a period when real gross domestic product declines for two consecutive quarters?
Recessions are periods when the economy is shrinking or contracting.
A monthly indicator that moves with the economy The National Bureau of Economic Research (NBER) has designated nine business cycles over the years from 1945 to 1991.
During this period, the average business cycle lasted about five years; the average expansion had a duration of a little over four years, while the average recession lasted just under one year.
The chart shows the periods of expansion and recession for the Composite Coincident Indicator Index from 1959 to 2002.