The National Bureau of Economic Research declared Monday that the recession began in February. This was the fastest that NBER has declared any recession since the group began formal announcements in 1979. That disparity "reflects the unusual nature of this recession," NBER said. Hopes for a speedy return to growthPrevious recessions began more subtly, causing a significant lag before NBER declared them. Although this recession began suddenly, there is hope that it could be relatively brief.

Source: CNN June 08, 2020 17:23 UTC