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  • The US economy reached its peak and entered recession in February amid a brutal downturn caused by the coronavirus pandemic that ended 128 months of expansion, the committee making the determination said Monday. Recessions typically are defined by several months of declining economic activity, but, "The unprecedented magnitude of the decline in employment and production, and its broad reach across the entire economy, warrants the designation of this episode as a recession," the Business Cycle Dating Committee of the National Bureau of Economic Research said. hs/cs
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  • US recession started in February, ending 128-month expansion
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