(Worthy News) – The National Bureau of Economic Research announced Monday that a recession began in February of this year, marking the end of the longest period of economic growth in history.
"The unprecedented magnitude of the decline in employment and production, and its broad reach across the entire economy, warrants the designation of this episode as a recession, even if it turns out to be briefer than earlier contractions," the bureau said in its report.
The bureau's definition of a recession is a decline in economic activity that lasts more than a few months. The bureau is a private nonprofit research organization that is known for providing start and end dates for recessions in the United States. [ Source: Washington Examiner (Read More…) ]
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