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National Bureau of Economic Research

The National Bureau of Economic Research (NBER) is a private, nonprofit, nonpartisan organization that determines when U.S. recessions begin and end.

Expanded Definition

NBER was founded in 1920. Its declarations on economic cycles are backward-looking, as when it announced in late 2008 that the economy had been in recession for a year. NBER's Business Cycle Dating Committee keeps track of the peaks and troughs (by month) of U.S. recessions. Data dates back to the mid-19th century.

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