I was just reading this article on Forbes.com and thought I would share.
The National Bureau of Economic Research tells us today that the recession that began in December 2007 technically ended in June 2009. That’s when general business activity in the U.S. reached a low point and the recovery began.
Unfortunately, the recovery is what most people care about at this point, and it’s been lackluster at best. Since May 2009 unemployment has fluctuated between 9.4% and 10.1%. Federal Reserve officials have said in recent months that consumer demand, the housing sector and bank lending all remain weak. Congress has yet to decide what to do about expiring tax benefits, creating uncertainty in the economy. Even the NBER, the unofficial arbiter of recession start and end dates, says that “economic activity is typically below normal in the early stages of an expansion, and it sometimes remains so well into the expansion.”
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