So far, France and Germany have had a single quarter of positive GDP.
This leads some ignorant pundits — those who never bother looking at the actual data — to declare the recession is over.
Sorry to be the bearer of bad news but that may not be true. The reality is that recessions can have positive GDP within them.
Indeed, just the most recent “normal” recession — *2001 — looked like this:
GDP percent change based on chained 2005 dollars (BEA)
Hence, the informed observer must acknowledge that we will not know if the recession in the US is over merely when we get the first quarter of positive GDP data.
Anyone know how France or Germany date their recessions . . . ?
*Note that the NBER dating committee describes the 2001 recession as running from March to November.
Recessions Often Begin With Positive GDP Data (May 2008)
A Positive GDP Recession? (July 28th, 2008)
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.