  We introduce a novel application of Support Vector Machines (SVM), an
important Machine Learning algorithm, to determine the beginning and end of
recessions in real time. Nowcasting, "forecasting" a condition about the
present time because the full information about it is not available until
later, is key for recessions, which are only determined months after the fact.
We show that SVM has excellent predictive performance for this task, and we
provide implementation details to facilitate its use in similar problems in
economics and finance.
