Loan Modification

U.S. recession ended in June 2009, NBER finds

By Implode-Explode Heavy Industries

Aren't you glad? Not only are we not in a recession, we haven't been for over a year!

The U.S. recession that started in December 2007 ended in June 2009, according to the group charged with determining when recessions officially begin and end. The National Bureau of Economic Research said the economy bottomed out in June 2009, followed thereafter by a slow expansion. The group said the 18-month recession was the longest since the end of World War Two. If another downturn occurs in the near future, the NBER said, it would constitute a separate recession.

Full post as published by Mortgage Lender Implode-o-Meter on September 20, 2010 (boomark / email).