Friday, October 30, 2009

BBC: Recession Has Ended

Economics is messy business. You can never know where you are in the monetary cycle. You have to wait and look backward to see where you were. That being said, according to the BBC, the USA has emerged from the "Great Recession".

The US economy grew at an annual pace of 3.5% between July and September, its first expansion in more than a year.
The growth was helped by a substantial government spending plan, including a scheme to boost car sales.

The official figures indicate recession has ended, but some economists think there could be further setbacks...

The return to growth of the world's largest economy also sent shares on Wall Street sharply higher. The main Dow Jones index closed up 200 points, or 2.1%, at 9,962.58.
Here's hoping they are right. I have a lot of friends and family members who could use an improved economy. Then again, it may be a while between the first small improvements and an economy that produces jobs for most of us.


BH said...

I fell off of my bike. The fall is over. It still hurts. I still need to get up. I need to see where my bike is and if it is still serviceable...

Boy am I glad that some one anounced that my fall was over.

shadowmom1 said...

They say that jobs lag a year or more behind the "recovery". Sigh.