The Business Cycle Dating Committee of the National Bureau of Economic Research has determined that a peak in monthly economic activity occurred in the U.S. economy in February. “The peak marks the end of the expansion that began in June 2009 and the beginning of a recession. The expansion lasted 128 months, the longest in the history of U.S. business cycles dating back to 1854. The previous record was held by the business expansion that lasted for 120 months from March 1991 to March 2001,” the agency said in a statement.
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