Reuters: It's official: U.S. economy entered recession in February
(Reuters) - The U.S. economy ended its longest expansion in history in February and entered recession as a result of the coronavirus pandemic, the private economics research group that acts as the arbiter for determining U.S. business cycles said on Monday.
The Business Cycle Dating Committee of the National Bureau of Economic Research said in a statement its members “concluded that 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, even if it turns out to be briefer than earlier contractions.”
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WNU Editor: The stock market is predicting a massive recovery .... The S&P 500 just had its best 50 days ever (CNN). More here .... Nasdaq hits record high as U.S. recession becomes official (Reuters).
More News On A U.S. Recession Officially Beginning In February As A Result Of The Coronavirus Pandemic
A US recession began in February in the face of coronavirus -- AP
The U.S. entered a recession in February, according to the official economic arbiter -- CNBC
Pandemic pushes US into official recession -- BBC
US has officially entered first recession since 2009 -- The Guardian
U.S. recession officially began in February -- Axios
