September 20th, 2010
10:51 AM ET

Recession officially ended in June 2009

The Great Recession ended in June 2009, according to the body charged with dating when recessions begin and end.

The National Bureau of Economic Research, an independent group of economists, released a statement Monday saying economic data now clearly points to the economy turning higher last summer.

But Monday's announcement comes at a time when there is growing concern among many economists that the U.S. economy is in danger of slipping into another downturn, a so-called double-dip recession. Measures of economic growth, hiring and other signs of recovery have all weakened in recent months.

FULL CNNMONEY.COM STORY

soundoff (29 Responses)
  1. Nat

    The only thing this proves is that the democrats will say anything to win an election!! Sad truth is a lot of americans are desperate enough to believe anything.

    September 20, 2010 at 9:42 pm | Report abuse |
  2. Laura

    If the country is doing so good why are people living out of cars and tents and when you go job hunting they say im not hiring due to the economy what the hell

    September 20, 2010 at 11:53 pm | Report abuse |
  3. phil

    Laura? omg! Dr. Laura is here! Just kidding. While you and I base our view of the economy on experiences we are having, the "experts" base theirs on anything that will garner votes or investors money.

    September 21, 2010 at 7:31 am | Report abuse |
  4. phil

    Nat, so the democrats leaked this story to the press? pls. read the post directly above yours for additional info on this.

    September 21, 2010 at 7:34 am | Report abuse |
  5. JOE

    the rich are rich enough for now. so, the recession is over, for now. this is TAXATION WITH REPRESENTATION? WAKE UP AMERICA!! believe nothing what you hear and nothing what you read.what can you do? NOTHING! NOT A DAMN THING.

    September 21, 2010 at 9:13 am | Report abuse |
  6. Chris

    The NBER uses mathematical formulas to come to these conclusions based on many indicators. They are relatively accurate for what they are. They showed a peak of the collapse of the housing bubble in 2006 and the Recession beginning in 2007 but the general populace didn't feel the effects until late 2008. They claimed recession and many people didn't listen. they kept partying and spending lavishly. It's delayed and this is likely the case.

    It just means that overall we have stopped falling significantly in GDP. Yes people were and are still losing jobs but that's due to public and private continuing to reduce expenses to become profitable again. You have to understand that people being laid off causes those people to stop being big consumers which causes products and services to slow which causes more layoffs. It's a cycle. Normally in a recession the unemployment indicators lag by six months but I get the impressions that the size of the recession is causing a bigger lag in employment bounce back.

    There is also the mental state of the populace. Besides what is actually happening in the economy there is the negative mental state of the investor and consumer; if they falsely believe the economy is bad or not recovering they wont spend and invest which feeds the problem.

    The recession isn't over when Joe Six Pack has a job; he may never get a steady job. Don't associate your personal lack of success or opportunities as reflection of the economy as a whole. I see people loosening their purse strings all the time, some people getting new jobs or going back to school. It's happening. Don't disillusion yourself but stay positive.

    Chances favors the prepared mind. Are you prepared? or did you just stop trying because of the long "Recession"?

    September 21, 2010 at 12:26 pm | Report abuse |
  7. jodraco

    Well, well, well, another lie being pushed down the brainwashed sheeple's throats. Go ahead and put your money into the stock markets and watch your money be stolen. This market upturn is just to bait us into entering the market and at the same time it gives the electorate a sense of happiness about this administration until the election is over. A lot of Republicans crossed over and voted for Obama because he promised to end the war in Iraq and Afghanistan. He and his puppet handlers lied to us. Don't have a short memory! The Israeli's and there gene pool Marxist relatives in America and elsewhere are bringing down the western Goyim societies. These Marxist gene pool sneaks are allied with the Chinese and Russian regimes, whom they've created..

    September 21, 2010 at 4:42 pm | Report abuse |
  8. Dale

    I spent 18 months homeless & am thankfull that i have secure housing now.ive seen one person after another end up homeless & so many of them just won't make it back into society again. people have to beg just to survive & homes & families are being lost forever.if the ressesion is over then the deppresion is begining!america must pull together or our country may not make it. i'm an optimist & believe the american people can survive this,but only if the left & the right stop fighting! things are so bad in my area that proffesionals are becoming homeless.i had a lawyer sleep on my couch for a week & he gave me his golf clubs for compensation! this is an emergency!!!

    September 22, 2010 at 4:58 am | Report abuse |
  9. DavidFabian

    The purpose of this absurd Orwellian article is to check how many people still have any brain cells still working. Anyone who objects to this insanity, will be listed as "not yet fully indoctrinated". However, anyone who points this out, will be deemed a "terrorist supporter".

    September 22, 2010 at 10:40 pm | Report abuse |
  10. jimalex

    What are you smokin there? did you ever wonder why you are in last place among cable news? this is why the recession is oficially over? bull! Fox has the 3 most popular news shows on cable wonder why? you are passing off opinions as news reports and we all know america leans right, thats away from you man you were the name in news now you are in 4th out of 4 good job keep it up and you will be bankrupt in dr. offices etc. CNN once played always now Msnbc or fox is on? someone screwed up! bigtime.

    September 23, 2010 at 12:03 pm | Report abuse |
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