Definition of officially dating
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co.
Definition: The business cycle is the natural rise and fall of economic growth that occurs over time. Inflation is greater than 2 percent and may reach the double digits. It takes time to analyze this data, so the NBER doesn't tell you the phase until after it's begun.
Gross domestic product, which measures economic output, is increasing. It doesn’t happen until toward the end of the contraction phase because it's a lagging indicator. That's the month when the economy transitions from the contraction phase to the expansion phase. (Source: "The National Business Cycle Dating Procedure: Frequently Asked Questions," National Bureau of Economic Research.)The business cycle's four phases can be so severe that they’re also called the boom and bust cycle.
They should use contractionary fiscal policy to keep the economy from overheating. That's because they get voted out of office when they raise taxes or cut popular programs.
The economy received another wallop in the first quarter of 2009 when it contracted a brutal 5.4 percent. The expansion phase started in the third quarter of 2009 when GDP rose 1.3 percent.
The unemployment rate rose from 5.0 percent in January to 7.3 percent by December. The trough occurred in the second quarter of 2009, according to the NBER. That was thanks to the stimulus spending from the American Recovery and Reinvestment Act.
The CIA’s mission includes collecting and analyzing information about high priority national security issues such as international terrorism, the proliferation of weapons of mass destruction, cyber attacks, international organized crime and narcotics trafficking, regional conflicts, counterintelligence threats, and the effects of environmental and natural disasters.The unemployment rate continued to worsen, reaching 10.0 percent in October.