Despite popular discussion, we are not in a recession, the economy grew by 0.6% in the first quarter of this year. This is the same growth that occurred in the fourth quarter of last year.
The economy is limping along, mainly being pulled down by the housing and credit markets, but it still grew.
I think the media needs to stop the gloom and doom. The keep putting the “R” word out there when it is not really a recession.
So what is a recession. I have found two relevant definitions of what a recession is. Continue reading “Recession? No! Economy grows by .6%”