The Beginning of the End of the Beginning of the Recession?

by Benjamin Domenech on 10:15 am August 1, 2009

Reports from America aren’t as bad as expected: the recent decline in output “was smaller than many economists had predicted, and a lot less than the dramatic 6.4% annual rate of contraction of the previous three-month period.” But there are plenty of reasons we aren’t out of the woods yet.

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