Feds: No Recession Yet
It appears that we’re not yet in a recession (much to the chagrin of Democrats) at least according to the latest numbers released today.
The economy grew by 0.6 percent for the first quarter, which is not good but better than analysts were expecting.
The country’s economic growth during January through March was the same as in the final three months of last year, the Commerce Department reported Wednesday. The statistic did not meet what economists consider the classic definition of a recession, which is a retraction of the economy. This means that although the economy is stuck in a rut, it is still managing to grow, even if modestly.
Some analysts predicted growth of around 0.5 percent for the first quarter, and some even predicting negative growth. Now those same analysts have changed their minds and are predicting negative growth for the current April-June period.
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