Yep, according to the NBER (National Bureau of Economic Research), I just got a Google alert that it’s officially over. The announcement rules out any possibility for a “double-dip” (I like double dipping), but then it states that a new downturn would be considered a new recession (sounds like they already know it’s here).
I’m glad to see that recession has gotten people so bored that they have time for semantics. I think they are trying to get their names in history books by being the pioneers at naming recessions.
If the economic recovery is sluggish and unemployment is at 9.6% and is not coming down, are we in fact out of the recession? Not sure that the definition for recession from the scholars matches the one of everyday Americans, with or without higher education, struggling to eat at the end of the month.