Dating term

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How does that relate to the NBER's recession dating procedure?A: Most of the recessions identified by our procedures do consist of two or more quarters of declining real GDP, but not all of them.Q: How do the cyclical fluctuations in the unemployment rate relate to the NBER business-cycle chronology?A: The unemployment rate is a trendless indicator that moves in the opposite direction from most other cyclical indicators.

Third, we consider the depth of the decline in economic activity.Its level in February 1949 was the same 4.7 percent as in November 2007.The NBER business-cycle chronology considers economic activity, which grows along an upward trend.Consequently, we picked the peak month based on the clear signal in employment, as well as our consideration of output and other measures.In that cycle, as well, the dating of the trough relied primarily on output measures.

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