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I haven't seen much harping about the US "recession" on this forum, but there has been plenty of it in a lot of other places. In articles I've read and news programs I've seen, it seems the press wants badly to see America's economy sink into a recession.
Well I hate to disappoint the media, but we're not there yet. The report released today showed that the US economy grew. Granted, it was a paltry 0.6%, but that's still growth. A recession is defined as two consecutive quarters of economic contraction.
Cheer up pessimists, there's always the chance that the economy will shrink this quarter. I'm sure that would make the financial hypocondriacs feel a lot better.