Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what’s new and why it matters in just 5 minutes.
Catch up on the day’s biggest business stories
Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter
Stay on top of the latest market trends
Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.
Sports news worthy of your time
Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.
Tech news worthy of your time
Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.
Get the inside stories
Get an insider’s guide to the new White House with Axios Sneak Peek. Sign up for free.
Axios on your phone
Get breaking news and scoops on the go with the Axios app.
Download for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Want a daily digest of the top Denver news?
Get a daily digest of the most important stories affecting your hometown with Axios Denver
Want a daily digest of the top Des Moines news?
Get a daily digest of the most important stories affecting your hometown with Axios Des Moines
Want a daily digest of the top Twin Cities news?
Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities
Want a daily digest of the top Tampa Bay news?
Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay
Want a daily digest of the top Charlotte news?
Get a daily digest of the most important stories affecting your hometown with Axios Charlotte
Sign up for Axios NW Arkansas
Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters
Illustration: Sarah Grillo/Axios
The U.S. economic recession triggered by the COVID-19 pandemic officially ended in April 2020, the National Bureau of Economic Research said Monday.
By the numbers: The NBER initially said the recession brought on by the COVID-19 pandemic began in February 2020, making this is the shortest recession on record.
Why it matters: While some define recessions as two consecutive quarters of decline in real GDP, that measure is imprecise and lacks nuance.
- The NBER considers changes in income, employment, retail sales, and industrial production in determining if there has been a “significant decline in economic activity.”
What they’re saying: “The NBER’s traditional definition of a recession involves a decline in economic activity that lasts more than a few months,” the institution said in a statement.
- “Nonetheless, the committee concluded that the unprecedented magnitude of the decline in employment and production, and its broad reach across the entire economy, warranted the designation of this episode as a recession.”