Monday, April 12, 2010
Official financial oracle not yet ready to declare recession over
“Although most indicators have turned up, the committee decided that the determination of the trough date on the basis of current data would be premature,” the group at the National Bureau of Economic Research said in a statement. Such an acknowledgment is rare in the history of setting dates to business cycles and could affect the behavior of investors and consumers.No dancing in the streets yet.
Despite a recent uptick in employment and income, the decision of the committee at a meeting last week — details of which were finalized over the weekend — reflects a lingering worry that the economy could turn downward again in a so-called double-dip recession.
EXTRA: Maybe one reason is that the Home Equity turd still has to float up in the punch bowl.
Subscribe to Comments [Atom]
Post a Comment