According to the Business Cycle Dating Committee of the National Bureau of Economic Research, the recession has officially ended in June of 2009. the recession started in december of 2007 and lasted 18 months, making it the longest economic downturn since World War 2. Recession dates are based on economic indicators and trends such as gross domestic product, income, employment, industrial production and wholesale-retail sales. Economists generally wait quite a while before officially declaring the recession is over to make sure it does not plummet shortly after. Economists claim that a recovery began later in the same month it ended, however the recovery has not been significant enough for most average Americans to take note.
http://economix.blogs.nytimes.com/2010/09/20/the-recession-has-officially-ended/?hp
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