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Third, the government does not publish a price index corresponding to the coverage of the measure.
The committee uses the same interpolated GDP deflator as discussed above.
Because this deflator is only available quarterly, the committee interpolates the published series to approximate a monthly price index for GDP.
The Appendix to this announcement lists these indicators and their sources.
The Appendix also describes the calculations required to reproduce the series that the NBER committee examined in its deliberations.
The committee identified December 2007 as the peak month, after determining that the subsequent decline in economic activity was large enough to qualify as a recession.
The product-side estimates fell slightly in 2007Q4, rose slightly in 2008Q1, rose again in 2008Q2, and fell slightly in 2008Q3.
The income-side estimates reached their peak in 2007Q3, fell slightly in 2007QQ1, rose slightly in 2008Q2 to a level below its peak in 2007Q3, and fell again in 2008Q3.
This series reached a peak in December 2007 and has declined every month since then.