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It's difficult to determine if you're in a recession based on GDP alone.

That's why the NBER measures the following monthly statistics.

Last winter, employers started cutting jobs and growth slowed significantly, but the decline appears to have accelerated over the summer.

The Committee acknowledges that use of these indicators in conjunction with the broad measures recognizes the issue of double-counting of sectors included in both those indicators and the broad measures.Recession bars provide a graphical representation of business cycles in the United States economy dating to 1850 based on cycle begin and end dates defined by the National Bureau of Economic Research’s Business Cycle Dating Committee.The Committee considers a “recession” or contraction as a period of diminishing (vs diminished) activity and an expansion as a period of increasing economic activity.But it noted that many other data points confirm the diagnosis."The committee determined that the decline in economic activity in 2008 met the standard for a recession," the group said in its statement.

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