This post-recession recovery is commensurate with that of the US recovery, considering it began later, after the double-dip European recession that followed the global financial crisis.
They reflect data publically available as of 15 September "Cepr recession dating" The committee declared that the trough of the recession that started after the Q3 peak has been reached in Q1.
The trough signals the end of the second recession witnessed by the euro area after the financial crisis. The Committee observed that since early the euro area has witnessed a prolonged episode of extremely weak growth in economic activity: Had the improvement in economic activity been more significant, it is likely that the Committee would Cepr recession dating declared a trough in the euro area business cycle in earlymost likely in Q1.
The lack of evidence of sustained improvement of economic activity in the euro area does, however, preclude calling an end to the recession that started after Q3. The Committee convened following positive news stemming from a variety of the European Commission, statistical agencies, forecasting institutions, international organizations, NowCasting.
The objective of the meeting was to determine whether there was enough evidence that the decline in economic activity that started after third quarter of had ended.
The Committee decided that, while it is possible that the recession ended, neither the length nor the strength of Cepr recession dating recovery was sufficient, as of 9 Octoberto declare that the euro area has come out of recession and to rule out the possibility that the euro area might be experiencing only a pause in the recession that started after Q3. The Committee concluded that economic activity in the euro area peaked
Cepr recession dating the third quarter of and that the euro area had been in recession since then.
The third quarter of marked the end of an expansion that began in the second quarter of and lasted 10 quarters. Although output increased 4.