Cleaning & Restoration Breaking News

Panel: Still Unclear if Recession Over

January 15, 2003
/ Print / Reprints /
/ Text Size+
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.


Have a limited marketing budget but realize the importance of neighborhood marketing? Try doorknob hangers, a low-cost, yet highly effective way to drum up more business. In this episode, John Braun discusses the value of this tactic as well as what you should include on the materials you're hanging.
More Podcasts

ICS Cleaning Specialist Magazine


2014 September

The September issue of ICS features stories on moisture detection, disinfectant services, neighborhood marketing, then we discuss the last level of being phenomenal, and cool products.

Table Of Contents Subscribe

Social Media

Social media is a good way to regularly keep in touch and interact with current clients and reach potential ones. What social mediums do you use in your cleaning/restoration business?
View Results Poll Archive


Get Paid! book cover
Get Paid! (ebook)
Over 30 authors – over 40 articles…from attorneys, contractors, consultants, instructors and others, both inside and outside the restoration industry. R & R, C & R and Cleanfax, opened their archives and gave us the best they had, other chapters were created just for the “Get Paid!” book and its readers. And every one of them has ideas for how to get paid what you are owed.

More Products


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

Click here to view


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

Click here to view


facebook_40.png twitter_40px.png youtube_40px.pngcrc logo