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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth
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To: tonto who wrote (116984)3/7/2008 7:45:46 PM
From: Kenneth E. Phillipps  Read Replies (2) of 173976
 
"The official arbiters of recession at the National Bureau of Economic Research define it as "a significant decline in economic activity spread across the economy, lasting more than a few months."

By that standard, recession could be here already. Gross domestic product grew a paltry 0.6 percent during the fourth quarter, and measures like the Institute for Supply Management's factory index now show contraction. It can take more than two years for a recession to become "official" as revisions to economic data are tweaked by the NBER."

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