According to an announcement by the NBER the current recession ended in June 2009. This recession lasted from December 2007 through June 2009, a period of 18 months, making it the longest recession since World War II. This distinction earned it the moniker of The Great Recession in the media.
Since so many people are focused on the unemployment numbers, which are a lagging indicator of economic growth, a large segment of the population, according to various polls, still thinks the recession is ongoing and that a double dip is imminent. GDP numbers released today for the second quarter show the economy growing by 1.7%, and anemic growth is forecast for the current quarter as well. For those with a contrarian view, investing prudently now could pay off handsomely, when folks begin to believe this recovery is for real
John Kaighn
Jersey Benefits Advisors
Thursday, September 30, 2010
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