That's the big take-away from today's report from the Bureau of Economic Analysis that the seasonally adjusted real value of the nation's production of goods and services grew at a 3.2% annual rate during the first quarter of 2010. But the details behind today's report suggest that the recovery so far remains pretty weak by historical standards.
The new GDP numbers allow us to update the Econbrowser Recession Indicator Index for the preceding quarter (2009:Q4), which now stands at 7.7%, a definitive signal that the recession is over. This number comes from a pattern recognition algorithm for dating business cycle expansions and contractions that waits one quarter for data revisions and clear trend identification before making an assessment. Full article at: Recession is over
we've got a long way to go
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