The National Bureau of Economics has released findings of their latest study which make the grand statement that the "Great Recession" is over. More so, it ended last year, in June 2009.
The study says that the latest recession lasted 18 months, the longest recession that the U.S. has experienced since World War II. The date the recession as beginning in December 2007, and ending in June 2009. They determined that a trough in business activity occurred in June 2009, ending the recession and signaling the start of economic expansion.
The NBER's findings thus eliminate the possibility of a "double-dip" recession because any new downturn would now be considering a new recession.
Interestingly, the NBER refused to call an end to the recession in April 2010, but made their bold declaration that it ended in 2009 this week based on the length of the recovery.
NBER Claims the Recession Ended in 2009 | Cleveland Leader