Cleaning & Restoration Breaking News

Panel: Still Unclear if Recession Over

WASHINGTON (Reuters) - An elite economic research panel that monitors U.S. business cycles said on Wednesday it was still too early to tell if the recession that began in March 2001 had given way to recovery.

"According to the most recent data, the U.S. economy continues to experience growth in output but declines in employment," the National Bureau of Economic Research said in a memo posted to its Web site.

"Recent data confirm our earlier conclusion that additional time is needed to be confident about the interpretation of the movements of the economy last year and this year," the NBER added.

The NBER's five-member Business Cycle Dating Committee has been poring over data to determine if the economic contraction that started nearly two years ago has ended and if so, when. Many analysts believe that a recovery likely began late in 2001 but the committee is holding back on making a definitive finding, in part because the economy has remained sluggish over the past year.

Robert Hall, chairman of the Dating Committee, has said that the group wants to rule out the possibility that the economy has suffered a renewed downturn. If that were the case, the group would have to determine if any renewed contraction amounted to a new recession or if it were a continuation of the 2001 downturn.

Did you enjoy this article? Click here to subscribe to i Cleaning Specialist Magazine.

You must login or register in order to post a comment.



Image Galleries

The 2014 Experience Conference and Exhibition

A look in photos at the 2014 Experience Conference and Exhibition, which was held from April 24-26 at the Embassy Suites Convention Center and Spa in Frisco, Texas.


Beginning April 21, Google will start judging websites based on their mobile friendliness. What exactly does this mean to you cleaning website? Find out in the latest edition of The Hitman Advertising Show, which will also cover tips and suggestions on getting mobile compliant.
More Podcasts

ICS Cleaning Specialist Magazine


2015 April

The April ICS issue features content on concrete polishing, green cleaning, air duct cleaning, injection sprayers and new products.

Table Of Contents Subscribe

Janitorial Work

In addition to residential and commercial carpet cleaning, do you do any janitorial work on the side?
View Results Poll Archive


The Carpet Cleaner's Book of Unlimited Success! (ebook)

Don’t worry about the recession or about your competition.  Now you can be the owner of over 400 ways for carpet cleaning professionals to make more money and get more jobs!

More Products


Director_Buyer.jpgThe premier resource and reference guide for the cleaning and restoration industries.

Click here to view


facebook_40.png twitter_40px.png youtube_40px.png


Truckmount.jpgEquipment listings and specifications from the leading industry manufacturers.

Click here to view