Will the NBER Finally Acknowledge the Recession?

Date November 12, 2008

If Martin Feldstein, a member of the National Bureau of Economic Research is right about the unemployment rate surpassing 8 percent, then we could expect consumer spending to slow further, pushing more retail chains into bankruptcy.

The NBER is the organization that officially determines whether the US economy has fallen into a recession. Although Feldstein is only one of its 8 members, I find it particularly interesting that he said the US recession is just beginning. I think that we are halfway into the recession.

The NBER has yet to officially recognize the recession and his comments are a step in that direction.

Officially recognized business cycles and expansions by NBER

Source: National Bureau of Economic Research

Source: National Bureau of Economic Research

More on this topic (What's this?)
The Truth Behind the U.S. Labor Department Employment Report (Money Morning, 1/6/12)
Prieur’s Readings (Jan 8, 2012) (Investment Postcards from Cape Town, 1/7/12)
Surprise Jump in U.S. December Payrolls (Wall Street Daily, 1/9/12)
Read more on PCCW, U.S. Economic Cycles, Unemployment (U.S.) at Wikinvest

Category Posted in Forex News, Forex Podcast, forex blog, recession

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