USRECNBER Recession Indicator (USREC) — Current Value & Historical Data
NBER Recession Indicator (USREC) Chart & Data Table
Gray bands: NBER recessions
What is NBER Recession Indicator (USREC)?
This time series is an interpretation of US Business Cycle Expansions and Contractions data provided by The National Bureau of Economic Research (NBER).
Current NBER Recession Indicator (USREC) Value
As of June 1, 2026, the current nber based recession indicators for the united states from the period following the peak through the trough is 0.00 +1 or 0. This is the most recent observation available for this series, updated monthly.
NBER Recession Indicator Historical Trend
In the series' tracked history, the highest recorded value was 1.00 (December 1854), and the lowest was 0.00 (January 1855).
Methodology & Source
Source
Federal Reserve Economic Data (FRED)
Frequency
Monthly
Units
+1 or 0
Notes
This time series is an interpretation of US Business Cycle Expansions and Contractions data provided by The National Bureau of Economic Research (http://www.nber.org/cycles/cyclesmain.html) (NBER). Our time series is composed of dummy variables that represent periods of expansion and recession. The ...
Frequently Asked Questions About NBER Recession Indicator (USREC)
What is the current nber based recession indicators for the united states from the period following the peak through the trough?
As of June 1, 2026, nber based recession indicators for the united states from the period following the peak through the trough stands at 0.00 +1 or 0.
Where does nber based recession indicators for the united states from the period following the peak through the trough data come from?
NBER based Recession Indicators for the United States from the Period following the Peak through the Trough data is sourced from the Federal Reserve Economic Data (FRED) system and related U.S. government agencies. Data quality and historical coverage vary by series.
How often is nber based recession indicators for the united states from the period following the peak through the trough updated?
This series is updated according to its publication schedule. Check FRED or the source agency for the most current release calendar.
What is the historical high and low for nber based recession indicators for the united states from the period following the peak through the trough?
In the available data, the highest value was 1.00 +1 or 0 in December 1854, and the lowest was 0.00 +1 or 0 in January 1855.
See NBER Recession Indicator in context
USREC is tracked on the Economic Snapshot dashboard, alongside related indicators and historical context.
View the Economic Snapshot dashboard →Related government-spending dashboards
How NBER Recession Indicator connects to the federal budget across GOVSPENDING.ORG:
Federal Debt
Total public debt, debt held by the public, and intragovernmental holdings.
Receipts vs Outlays
Federal revenue, spending, and the resulting surplus or deficit over time.
Congressional Activity
Recent legislation, appropriations, and fiscal-related bills in Congress.
Interest Expense vs Revenue
How rising debt service costs crowd out federal spending as a share of receipts over time.
Revenue Composition
Federal receipts broken down by source — individual income, corporate, social insurance, excise taxes, and customs duties as shares of total revenue.
Agency Spending (FY 2019 vs FY 2024)
Net outlays by federal agency for FY 2019 and FY 2024, from the Treasury Monthly Treasury Statement. Both nominal and inflation-adjusted comparisons.