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The U.S. coronavirus recession lasted two months and ended in April 2020, official arbiters said.

The coronavirus pandemic caused extensive business closures last spring, including this restaurant in a grocery store in Los Angeles on March 26, 2020.


Photo:

Damian Dovarganes / Associated Press

The United States officially emerged from the recession in April 2020, ending the pandemic-led economic contraction that began in February and was the shortest in two months.

Monday’s announcement from the National Bureau of Economic Research also marks April as the official beginning of an economic recovery from the first shock of the coronavirus pandemic last spring. loss.

The recession ended the country’s longest recorded economic expansion, which began in June 2009 and lasted 128 months, according to the agency’s Business Cycle Dating Committee, an accepted recession mediator in the United States. ..

The Commission uses a variety of indicators to identify the peaks and valleys that make up the economic contraction and defines a “recession” as follows: Significant decline in economic activity It spreads throughout the economy, which lasts for more than a few months. This group usually waits until the cycle is fully developed before declaring that the cycle has begun. It took more than a year to declare the end of the recession from 2007 to 2009.But that is Last summer, it broke in the past practice When it announced that the recession had begun just a few months ago.

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The U.S. coronavirus recession lasted two months and ended in April 2020, official arbiters said.

Source link The U.S. coronavirus recession lasted two months and ended in April 2020, official arbiters said.

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