Official - the National Bureau of Economic Research (NBER) today declared that the United States is in recession:

The committee identified December 2007 as the peak month, after determining that the subsequent decline in economic activity was large enough to qualify as a recession. (link)

I wonder if one might very respectfully suggest that the NBER work to improve the timeliness of its declarations? I realise the committee wants to be sure but a year is what it took to construct the Empire State Building (and Disneyland if that's significant). Seems like calling a recession "officially"' might be a task requiring less time.

Plus if they'd delayed another month the Intrade bet would have been void.

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