Contraction could be a thing of the past

 

The Great Recession is hardly over, but the rate of decline is slowing and the light at the end of the tunnel is coming into view. - Courtesy of Life Magazine

The Economic contraction is losing steam, so hold on until financial markets start to turn around. The sharpest contraction in economic output (real GDP) during the current recession apparently occurred in the final quarter of last year when a massive financial market shock threatened to throw the U.S. and global economies into 1930s-like depressions.

GDP contracted at an annual rate of 6.3% in the fourth quarter of 2008, quite a serious matter. The advance estimate for the first quarter of this year was down a dismal 6.1%, but late-breaking March data on construction, international trade and business inventories point toward an upward revision to the contraction to about 5.5% ?EUR??,,????'??+ close to the original projection. ?EUR??,,????'??? Courtesy of National Association of Home Builders