New Business Cycle Trough Date Determined for Italy
Today ECRI is announcing a new Italian business cycle trough date, October 2014.
Click here for the complete international business cycle chronology.
Business cycles are alternating periods of recession and recovery – and are part and parcel of all free-market economies.
Before there was a committee to determine U.S. business cycle dates, ECRI co-founder Geoffrey H. Moore decided all those dates on the NBER’s behalf from 1949 to 1978, and then served as the committee’s senior member until he passed away in 2000. Using the same approach, ECRI has long determined recession start and end dates for 20 other countries.