The U.S. recession ended in June 2009 and any future economic downturn would signal a new recession, the National Bureau of Economic Research announced Monday.

“The recession lasted 18 months, which makes it the longest of any recession since World War II,” the bureau said in a statement. The NBER, which is considered the arbiter of U.S. recessions, based its decision on “the length and strength of the recovery to date.”

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.