Definition Of Recession Nber

The nber s traditional definition emphasizes that a recession involves a significant decline in economic activity that is spread across the economy and lasts more than a few months. Nber has its own definition of what constitutes a recession namely a significant decline in economic activity spread across the economy lasting more than a few months normally visible in real. The nber defines a recession as a significant decline in economic activity spread across the economy lasting more than a few months normally visible in real gdp real income employment.

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A recession is a significant decline in economic activity spread across the economy lasting more than a few months normally visible in real gdp real income employment industrial production and wholesale retail sales.

Definition of recession nber. The national bureau of economic research nber is a private non profit non partisan research organization with an aim is to promote a greater understanding of how the economy works. The official nber definition of recession which is used to date u s. In our modern interpretation of this definition we treat the three criteria depth diffusion and duration as at least somewhat interchangeable. The nber measures peak to trough declines in economic activity through a number of macroeconomic variables.

The official nber definition of recession which is used to date u s. The nber s traditional definition emphasizes that a recession involves a significant decline in economic activity that is spread across the economy and lasts more than a few months. While the popular definition of a recession is two consecutive quarters of negative real gross do mestic product gdp growth the nber does not strictly abide by this designation note 2. A recession is a significant decline in economic activity spread across the economy lasting more than a few months normally visible in real gdp real income employment industrial production and wholesale retail sales.

The nber recession is a monthly concept that takes account of a number of monthly indicators such as employment personal income and industrial production as well as quarterly gdp growth. The agency that is officially in charge of declaring a recession in the united states is known as the national bureau of economic research or nber. The nber define s a recession as a significant decline in economic activity lasting more than a few months. In our modern interpretation of this definition we treat the three criteria depth diffusion and duration as at least somewhat interchangeable.