The business-cycle dating committee of the National Bureau of Economic Research on Thursday declared that the US recession ended in November 2001. The committee said GDP suggested the economy began recovering in late 2001 and has since risen above its pre-recession peak.
Source: Financial Times
The US recession was on Thursday formally declared to have ended in November 2001 - affirmation that the downturn is over, the economy is in recovery, but its future course remains in doubt.
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