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In determining that a trough occurred in June 2009, the committee did not conclude that economic conditions since that month have been favorable or that the economy has returned to operating at normal capacity.The committee places less emphasis on monthly data series for industrial production and manufacturing-trade sales, because these refer to particular sectors of the economy.Movements in these series can provide useful additional information when the broader measures are ambiguous about the date of the monthly peak or trough.Identifying the date of the trough involved weighing the behavior of various indicators of economic activity.The estimates of real GDP and GDI issued by the Bureau of Economic Analysis of the U. Department of Commerce are only available quarterly.
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So what was somewhat unknown in Canada more than a decade ago, has now become common knowledge.