U.S. News: Panel Decides It's Too Soon To Pinpoint Recession's End
The committee of academic economists that dates the beginning and end of U.S. recessions stopped short of calling an end to the downturn that started in December 2007, drawing public criticism from a committee member.</br></br>Most members of the National Bureau of Economic Research's Business Cycle Dating Committee have said the recession probably ended in mid-2009, when several key economic indicators reached their trough and the economy started growing again.</br></br>But the seven-member group said Monday that it wasn't ready to mark the official end date, given the chance -- however small -- that the economy could start shrinking again or that revised data could shift the timing of the economy's low point.</br></br>"Although most indicators have turned up, the committee decided that the determination of the trough date on the basis of current data would be premature," the committee said. "Many indicators are quite preliminary at this time and will be revised in coming months."</br></br>The decision bred controversy on the committee, underscoring the range of opinions about the state of the economy.