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The arbitrary convention does not reflect any judgment on this issue by the NBER's Business Cycle Dating Committee.A value of 1 is a recessionary period, while a value of 0 is an expansionary period.The chances of meeting someone amazing with thousands to choose from online is far greater than frequenting your local watering hole, in hopes that in between rounds of overpriced cocktails, someone fantastic will walk in and take a seat next to you.While many people meet possible mates through friends or acquaintances, as you get older, the dating pool gets smaller, as more people get engaged and married.The trough heralds the onset of a euro area expansion; any subsequent decline in economic activity will constitute a new recession.The expansion since the 2013Q1 trough has been, so far, unusually lacklustre by historical standards.

Because a recession influences the economy broadly and is not confined to one sector, we emphasize economy-wide measures of economic activity.

Findings Methodology Data sources FAQs The CEPR Euro Area Business Cycle Dating Committee, which is composed of nine CEPR researchers, establishes the chronology of recessions and expansions of the eleven original euro-area member countries plus Greece for 1970-1998, and of the euro area as a whole from 1999 onwards.

The Committee released its new findings on 1 October 2015.

A recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.

A recession begins just after the economy reaches a peak of activity and ends as the economy reaches its trough.

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