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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (62062)	3/14/2002 1:35:21 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

DJ. WSJ(3/14) Recession Arbiter Says US Economy May Be On Mend By Robert Gavin Staff Reporter of The Wall Street Journal futuresource.com The nation's arbiter of recessions said that the economy may be turning the corner, adding official weight to recent upbeat economic data and the growing consensus among economists that a recovery is under way. The nonprofit National Bureau of Economic Research stopped short of declaring the recession over, but the group, which pinpoints the peaks and valleys of the U.S. business cycle, cited the improving employment picture as evidence that the downturn may be ending. The Labor Department reported last week that the nation added 66,000 jobs in February, the first employment gain in seven months. Also noting improvements in manufacturing, sales and other sectors, the NBER said in a memorandum posted on its Web site: "The decline in activity that began last year may be coming to an end." The NBER, which declared in the fall that the U.S. went into recession in March, is likely to collect and review data for several months before officially calling its end. For the last recession a decade ago, NBER waited until December 1992 to declare that the recession had ended in March 1991. Responding to some economists' assertions that there hasn't been a recent recession, NBER said that "there has unquestionably been a recession, even though it wasn't quite severe enough to offset fully the powerful special force of productivity growth to bring about the usual sustained drop in real GDP."