Announcements

31 March 2009: The Euro Area Business Cycle Dating Committee announced that economic activity in the euro area peaked in the first quarter of 2008. The peak marked the end of an expansion that began in the third quarter of 1993 and lasted 57 quarters. Identifying the month in which activity peaked is more difficult for the euro area, but the Committee’s best judgement is January 2008. You can read the Findings here and the press release here.

22 September 2003: The Committee issued its first set of findings. It determined that three recessions took place over the period 1970 to 1998 and identified a “growth pause” in 2003. You can read the findings here. The Committee also issued a press release to accompany its findings. You can read the press release in English, French and German.