It's official: U.S. is in recession
Dec. 1: A CNBC panel discusses new data from the National Bureau of Economic Research saying that the current recession actually began in December, 2007.
CNBC
WASHINGTON - The economy fell into recession late last year, according to a panel of economists that is responsible for determining the dates of business cycles.
Monday's declaration by the panel of the National Bureau of Economic Research confirms what many private economists, lawmakers and members of the general public already have assumed and puts an official date on it: A U.S. recession began in December 2007.
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