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Newspaper
Delaware County Daily Times
Location
Chester, Pennsylvania, United States of America
Date
Dec 23, 1992
Page
3
Washington officials announce the recession ended March 1991 after the National Bureau of Economic Research committee of seven economists confirmed the downturn began July 1990 and ended eight months later. Despite slow growth through 1991, output surpassed its pre-recession high, signaling recovery.
The Commerce Department released its final report on third quarter gross domestic product confirming the trough date after reviewing whether a future downturn would signal a new recession or continuation of the July 1990 recession. Chairman Robert Hall rejected political influence, noting decisions followed normal procedures despite campaign rhetoric. The panel moved to declare the recession began in July 1990 on April 25, 1991, even though the downturn had already ended.
E Newbold Smith, 66, told a jury he considered ways to remove Lewis du Pont Smith from Lyndon LaRouche influence but denied proposing an abduction. He described discussions as hypothetical and said he did not author any plan. The case involves four defendants accused of plotting to abduct and deprogram the younger Smith off the East Coast.
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