About: http://data.cimple.eu/news-article/ce1a782fb673e572ea83d74c84a6792067bba745129231b667b8ce6c

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About: http://data.cimple.eu/news-article/ce1a782fb673e572ea83d74c84a6792067bba745129231b667b8ce6c Goto Sponge NotDistinct Permalink

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rdf:type	schema:NewsArticle
schema:articleBody	The US economy reached its peak and entered recession in February, ending 128 month of expansion amid a brutal downturn caused by the coronavirus pandemic, the committee making the determination said Monday. Recessions typically are defined by several months of declining economic activity, according to the Business Cycle Dating Committee of the National Bureau of Economic Research (NBER), a non-profit, non-partisan research organization. However, "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 committee said. Government data show the US economy contracted by 4.8 percent in the first quarter, even though most of the nationwide lockdowns did not occur until the final two weeks of the period. That ended the longest US expansion since 1854, NBER said, and this downturn had different characteristics than prior slowdowns. A recession is defined by "a significant decline in economic activity spread across the economy, normally visible in production, employment, and other indicators," but the committee also "weighs the depth of the contraction, its duration and whether economic activity declined broadly across the economy." Employment is a key factor in deciding the start of a recession, and the committee said official data on payrolls -- which showed 22 million jobs destroyed in March and April -- reached a "clear peak" in February. The committee notes that "a recession begins when the economy reaches a peak of economic activity and ends when the economy reaches its trough. Between trough and peak, the economy is in an expansion." hs/cs
schema:headline	US recession started in February, ending 128-month expansion
schema:mentions	Recession Federal Bureau of Investigation Pandemic Coronavirus National Bureau of Economic Research Low-pressure area
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-06-08 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	88 (xsd:integer)

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