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During the recession beginning in 1973, GDP fell by a cumulative 3%.
Moreover, the NBER has no fixed timeline for determining recession dates and often announces the beginning of a recession a year or more after it occurs.
Within the NBER framework of alternating peaks and troughs in economic activity, "a recession is a period between a peak and a trough, and an expansion is a period between a trough and a peak.
To conclude, references to double-dip recession are numerous despite the absence of a uniform or widely accepted definition of this particular concept.
According to several market experts, much of the talk about a recession seems overblown.
Again, there is an upward rotation in the trend line when the Great Recession is included.
Fixed demand can be the easiest way to cope with a recession as long as your funding sources remain steady.
The global financial crisis of 200809 contributed to national recessions of varying severity.
The Great Recession disproportionately affected household wealth, unemployment rates, and health insurance coverage of minorities.
The pay freezes for nurses and teachers, plus measly wage increases in the private sector, are proof that we're in recession.
The solid black circles show the observations pertaining to the Great Recession and the follow-up recovery.
The last recession finished mid-way through 2009, but its impact was so deep that output has not yet reached pre-recession levels.