No, the sole objective of the Committee is to date recessions for the euro area as a whole.
Moreover, European statistics are of uneven quality, long time series are not available, and data definitions differ across countries and sources. It identifies business cycle dating committee recession definition points which act as a reference point for the construction of coincident, leading and lagging indicators of the economy.
Notably, the members of all the aforementioned BCDCs are independent scholars.
It was not until eight months later that revisions in the GDP data showed declining real GDP for the first, second, and third quarters of The President and the Research Director are ex officio members of the Committee.
Restocking bounce short-lived, GST clouds over manufacturing sector darken.
A separate field within economics called the economics of growth ( economics: Growth and development) specializes in the study of the characteristics and causes of business cycles and long-term growth patterns.
Growth economists doing research in that field try to develop models that explain the fluctuations in economic activity, as measured primarily by changes in GDP.
The expenditure approach is so called because all three variables on the right-hand side of the equation denote expenditures by different groups in the economy.