NU Online News Service, Nov. 26, 2:20 p.m. — The National Bureau of Economic Research, Cambridge, Mass., a group widely considered to be the authority on economic recessions, says the U.S. economy has slid into its first recession in a decade.
The NBER business-cycle dating committee, a group of six economists, says the current recession started in March.
The bureau formally defines a recession as three consecutive quarters of falling real gross domestic product. The full text of the NBER statement on the U.S. recession is available on the Web, at http://www.nber.org
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