It is very interesting to know that the panel of academics that determine the start and end of recession have not decided on the date that the current recession has ended. According to the panel, the exact date that this recession started is December 2007. This recession is the longest and the worst since 1930's.
There are several cycle of recession previously but the duration is very short.
The panel looks at figures such as gross domestic product, incomes, employment and industrial activity.
Usually, the panel takes time to declare the start and end of the recession. Most people think that the recession has been over since sometime last year.