Recessions mark a distinct phase of the overall business cycle, beginning with a business cycle "peak" and ending with a business cycle "trough." Between trough and peak the economy is in an expansion. The National Bureau of Economic Research (NBER) identifies dates for national recessions, which can vary in overall duration and magnitude.7 While NBER sets dates for the peaks and troughs of national recessions, no dates are set for turning points in state economies. State economic downturns vary in magnitude, duration, and timing, and do not necessarily coincide with dates identified for national recessions.
| Author: Government Accountability Office |
| Publisher: Createspace Independent Publishing Platform |
| Publication Date: Aug 28, 2013 |
| Number of Pages: 72 pages |
| Binding: Paperback or Softback |
| ISBN-10: 149218277X |
| ISBN-13: 9781492182771 |