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Similarly, during an expansion, economic activity rises substantially, spreads across the economy, and usually lasts for several years.In both recessions and expansions, brief reversals in economic activity may occur-a recession may include a short period of expansion followed by further decline; an expansion may include a short period of contraction followed by further growth.
The most recent example of such a judgment that was less than obvious was in 1980-1982, when the Committee determined that the contraction that began in 1981 was not a continuation of the one that began in 1980, but rather a separate full recession.So, if you need a romantic bar to woo that special girl, a candlelit dinner to impress your new man or something completely off the wall to spice up an established relationship, enter your requirements into the 'date-a-base' and let us do your thinking for you...The NBER's Business Cycle Dating Committee maintains a chronology of the U. A recession is a period between a peak and a trough, and an expansion is a period between a trough and a peak. The chronology comprises alternating dates of peaks and troughs in economic activity.During a recession, a significant decline in economic activity spreads across the economy and can last from a few months to more than a year.Welcome to the Great Date Single, married or somewhere in between, we all love to date.
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The Committee does not have a fixed definition of economic activity.
It examines and compares the behavior of various measures of broad activity: real GDP measured on the product and income sides, economy-wide employment, and real income.
The Committee also may consider indicators that do not cover the entire economy, such as real sales and the Federal Reserve's index of industrial production (IP).