Recession officially began in February and ended 11 years of growth, economists say
WASHINGTON The U.S. economy entered a recession in February as the coronavirus struck the nation, a group of economists declared Monday, ending the longest expansion on record. In the previous recession, the committee did not declare that the economy was in recession until December 2008, a year after it had actually begun. Because the economy peaked in February, that is the month when the recession officially began, rather than in March, when unemployment began to rise. A recession ends when employment and output start to pick up again, not when they reach their pre-recession levels. Some economists say it could take two years or more, with the unemployment rate likely still 10% or higher at the end of this year.