The Committee has identified the peak and trough quarters since 1970:
Date |
Peak / Trough |
Announcement Date |
2020 Q2 | Trough | 9 November 2021 |
2019 Q4 | Peak | 29 September 2020 |
2013 Q1 | Trough | 1 October 2015 |
2011 Q3 | Peak | 15 November 2012 |
2009 Q2 | Trough | 4 October 2010 |
2008 Q1 | Peak | 31 March 2009 |
1993 Q3 | Trough | 22 September 2003 |
1992 Q1 | Peak | 22 September 2003 |
1982 Q3 | Trough | 22 September 2003 |
1980 Q1 | Peak | 22 September 2003 |
1975 Q1 | Trough | 22 September 2003 |
1974 Q3 | Peak | 22 September 2003 |
RECESSION INDICATORS
By convention, if a peak occurs during quarter P and a trough during quarter T, the recession starts at P+1 and the expansion at T+1. Thus, the quarter of the peak belongs to the preceding expansion, and that of the trough to the preceding recession. For a methodological note on recession indicators and alternative definitions, please consult the note published by FRED.
Recession indicators following this convention are available here and represented below graphically, with recessions shaded in grey.