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[US Recession Definition And Determination By NBER] The Official Determination Of A US Recession Is Made By The Non-governmental Business Cycle Dating Committee (BCDC) Under The National Bureau Of Economic Research (NBER), Rather Than Solely Based On Two Consecutive Quarters Of Negative GDP. The NBER Defines A Recession As A Significant Decline In Economic Activity, Widespread Across The Economy, And Lasting More Than A Few Months. They Base Their Decision On Indicators Including Employment, Real Personal Income, Industrial Production, And Real Business Sales, Considering The Depth, Diffusion, And Duration Of The Economic Downturn, With The Declaration Made Retrospectively After Reviewing Data.
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