Economic dating committee
See Data Sources The financial press often states the definition of a recession as two consecutive quarters of decline in real GDP.How does that relate to your recession dating procedure?
A recession is a period of falling economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.
The trough marks the end of the declining phase and the start of the rising phase of the business cycle.
Economic activity is typically below normal in the early stages of an expansion, and it sometimes remains so well into the expansion.
See Methodology Does CEPR use a different approach to NBER?
See The CEPR and NBER Approaches What data does the Committee use?