The 18-month recession was the longest since the Great depression, and it will take years for the economy to recover fully.
Monday, September 20, 2010
Recession Officially Ended In June 2009
The recession has officially ended! The 18-month recession was the longest since the Great Depression, and it will take years for the Economy to recover fully.
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I feel this is a pretty bold article, especially considering how bad the housing market and unemployment is, the two largest issues with this "past" recession. Also, temporary recovery is followed by another recession in a double-dip, which is what some economists are forecasting.
ReplyDeleteI agree with Jeffrey that the article is pretty bold and can hurt sensitivities of those facing the real affects of the recession. But I think what the article is trying to show is that in numbers we are probably out of the recession, but the process after is a long and slow one. Although the housing and unemployment market is still pretty bad, the idea is that the economy is recovering. It is not a robust recovery but the economy is growing (at a really slow rate but at a growing rate all the same).
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