Tuesday, August 4, 2009

Is the Recession Over?

The ISM manufacturing index rose from 44.8 in June to 48.9 in July in what clearly appears to be a "V" shaped recovery in the graphic above...
Of course, it may not feel as though the recession is over for a couple years or more, but that has nothing to do with calling an end to the current economic downturn, a formality that probably won't occur for many months.
Anyone who remembers the aftermath of the last recession will surely recall that the pain extended well past the official endpoint in 2001.

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