The committee concluded that strong growth in both real GDP and real GDI in the fourth quarter of 2009 ruled out the possibility that the trough occurred later than the third quarter.
The committee designated June as the month of the trough based on several monthly indicators.
In both the 2001- cycles, household employment also reached its trough later than the NBER trough date.
Economic activity is typically below normal in the early stages of an expansion, and it sometimes remains so well into the expansion.CAMBRIDGE September 20, 2010 - The Business Cycle Dating Committee of the National Bureau of Economic Research met yesterday by conference call. The trough marks the end of the recession that began in December 2007 and the beginning of an expansion.