The National Bureau of Economic Research (NBER) declared Monday that the coronavirus recession lasted only two months — the shortest on record — and that the economic recovery began in May 2020 under President Donald Trump.
The recession began at the economy’s peak in February 2020, and was over by April 2020, according to the NBER — just as Trump was signing relief, such as the Payment Protection Program (PPP), into law, overcoming Democratic delays.
The NBER’s report states:
Cambridge, July 19, 2021 – The Business Cycle Dating Committee of the National Bureau of Economic Research maintains a chronology of the peaks and troughs of US business cycles. The committee has determined that a trough in monthly economic activity occurred in the US economy in April 2020. The previous peak in economic activity occurred in February 2020. The recession lasted two months, which makes it the shortest US