Jan
What Economic Recovery? What Economic Recession?
In early November the talking heads were breathlessly reporting the economy “grew” by 3.5% in the third quarter…that the economy was now recovering. The end of economic contraction also signaled the end of the recession that began in the fourth quarter of 2007. And they attributed much of this growth to the pick up in auto sales. To read the full government report, go to www.bea.gov.
The index of leading economic indicators, which has been positive for seven months now, is also suggesting the economy is in recovery.
So, is it true? Are we on a sustainable growth path now? Does this latest government release about the economy mean the worst is behind us? Does the Index of Leading Economic Indicators tell us the same thing?