Now that we're officially in a recession ...
Commentary: What this economic downturn is likely to hold for the U.S.
PORT WASHINGTON, N.Y. (MarketWatch) -- The National Bureau of Economic Research has finally confirmed what the real world has known for at least a year: The U.S. economy is now well into its 11th postwar recession.
Although the bureau says that it takes anywhere from
six to 18 months to determine that a peak in economic activity has been
reached, this one has taken longer than its four immediate
predecessors.
The bureau says that the latest business cycle peak was reached a year ago, in December 2007.
By contrast, the March 2001 peak was announced eight months later,
while the July 1990 peak was determined within nine months. The July
1981 peak was set six months after the fact, while it took only five
months to establish that a peak was reached in January 1980.
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