Dating in the world
The trough marks the end of the declining phase and the start of the rising phase of the business cycle.Economic activity is typically below normal in the early stages of an expansion, and it sometimes remains so well into the expansion.
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Previously the longest postwar recessions were those of 1973--82, both of which lasted 16 months.
In determining that a trough occurred in June 2009, the committee did not conclude that economic conditions since that month have been favorable or that the economy has returned to operating at normal capacity.
The committee decided that any future downturn of the economy would be a new recession and not a continuation of the recession that began in December 2007.