The NBER recession anncouncement

The full text of the announcement of the start date of the recession by the National Bureau of Economic Research Business Cycle Dating Committee is available on the NBER web site.

One interesting change from past announcements by the committee is the emphasis they now put on "real Gross Domestic Income" (GDI), rather than GDP or real income. They have also started disclosuing a little more of their specific data sources and calculations. In fact, it appears that they did not even use monthly GDP this time, focusing more on employment. Their exact calculation for real income minus transfers is still a bit fuzzy.

-- Jack Krupansky