Wednesday, March 10, 2010
Not looking good
WEAK GROWTH CONTINUES "The National Institute interprets the term â€œrecessionâ€ to mean a period when output is falling or receding, while â€œdepressionâ€ is a period when output is depressed below its previous peak. Thus, unless output turns down again, the recession is over, while the period of depression is likely to continue for some time. We do not expect output to pass its peak at the start of 2008 until 2012."