Tuesday, September 21, 2010

FT.com / US / Economy & Fed - Downturn longest since Great Depression

FT.com / US / Economy & Fed - Downtu

The longest US recession since the Great Depression

officially ended in June 2009

, the body charged with dating US business cycles said on Monday.

The National Bureau of Economic Research said that the recession lasted 18 months, from December 2007 to June 2009. That was longer than the 16 months of the 1973-75 and 1981-82 recessions.

The announcement highlights the extraordinary length of the recession that began when the collapse of the subprime mortgage market triggered the most severe financial crisis since 1929.nday.rn longest since Great Depression


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