Business cycle dating committee wiki
01-Nov-2019 17:35
The committee noted that the most recent data indicate that the broadest measure of economic activity-gross domestic product in constant dollars-has risen 4.0 percent from its low in the third quarter of 2001, and is 3.3 percent above its pre-recession peak in the fourth quarter of 2000.
Q: Why did the committee wait so long before identifying a trough?
The committee concluded that some of the depressed level of economic activity in September 2001 was the result of the exceptional events of September 11, and thus should not be considered in identifying the trough.
