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Thursday, July 31, 2008

Recession May Have Started in Q4, 2007

by Calculated Risk on 7/31/2008 09:52:00 AM

From Bloomberg: U.S. Recession May Have Begun in Last Quarter of 2007

The U.S. economy may have tipped into a recession in the last three months of 2007 ... The world's largest economy contracted at a 0.2 percent annual pace in the fourth quarter of last year compared with a previously reported 0.6 percent gain ...

The revisions now reinforce measures such as employment and production that already signaled the economy was shrinking.
I've been showing Dec 2007 as the start of the recession on most of my graphs.