It is now official–the recession is over. A group of academic economists from the National Bureau of Economic Research have declared that the longest recession since the Great Depression ended in June 2009. We have heard a great deal lately from various economists and pundits that there will be no double dip recession. A double dip recession is one where growth in GDP turns negative shortly after a few quarters of positive growth in GDP. Given that there has been little improvement in the economy since last June it is a relatively gutsy call by the NBER “dating committee.” A quick review of the Markets and Data page on Mises.org reveals that most data series have shown little or no improvement, except those that indicate higher inflation and fear.
Source link: http://archive.mises.org/13951/the-recession-is-over/
The recession is over
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