Longest Recession Since World War II
(CNN Money) — The Great Recession ended in June 2009, according to the body charged with dating when economic downturns begin and end.
But the news is little comfort to the millions of Americans still out of work, underwater on their mortgages or uncertain about the future.
The National Bureau of Economic Research, an independent group of economists, released a statement Monday saying economic data now clearly point to the economy turning higher last summer. That makes the 18-month recession that started in December 2007 the longest and deepest downturn for the U.S. economy since the Great Depression.
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