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Geoffrey Moore, Center for Inter-national Business Cycle Research; Victor Zarnowitz, University of Chicago; and Benjamin Friedman, Harvard University, who did not attend today's meeting.

Business Cycle Dating Committee, National Bureau of Economic Research January 7, 2008 This report is also available as a PDF file. The chronology identifies the dates of peaks and troughs that frame economic recession or expansion.

GNP data are compiled quarterly; real GNP in the first quarter of 1980 was higher than in any earlier quarter.

The Committee felt that it was unnecessary to wait for publication of data on real GNP in the second quarter, in view of the widespread declines in monthly series.

The National Bureau's Business Cycle Dating Committee maintains a chronology of the U. The period from a peak to a trough is a recession and the period from a trough to a peak is an expansion.

According to the chronology, the most recent peak occurred in March 2001, ending a record-long expansion that began in 1991.

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Philippe Weil, (Chair, 2012- ), 2003- , ULB and CEPRRefet Gürkaynak, (Vice Chair, 2019-) 2012- , Bilkent University and CEPRJohn Fernald, 2019-, INSEAD, Federal Reserve Bank of San Francisco and CEPREvi Pappa, 2019-, Universidad Carlos III de Madrid and CEPRAntonella Trigari, 2019-, Bocconi University and CEPR The CEPR and EABCN have partnered to jointly support and expand the activities of the EABCDC.

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