Results for the Third Quarter of 2009 have been announced:
Economy returns to growth after a year of declines
By Lucia Mutikani
ReutersWASHINGTON (Reuters) - The U.S. economy grew in the third quarter for the first time in more than a year as government stimulus helped lift consumer spending and home building, fueling an unexpectedly strong advance.
Signaling the end of the worst recession in 70 years, the Commerce Department on Thursday said the economy expanded at a 3.5 percent annual rate in the July-September period, snapping four down quarters with its fastest growth pace since the third quarter of 2007.
This certainly meets the classical definition of the end of a recession.
Hat Tip: HotAir
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Comments (11)
Yeah. Maybe the unemploymen... (Below threshold)1. Posted by Weegie | October 29, 2009 11:09 AM | Score: 4 (4 votes cast)
Yeah. Maybe the unemployment rolls will eventually stop growing in the future.
But based on the Obama duplication of the FDR policies that prolonged the Depression, I do not anticipate any surge in employment in the near term.
Not with Democrats in charge, anyway. Not with their looming hits on business - Cap & Trade, the expiration of the Bush tax cuts, the start of fines and taxes for implementation of government healthcare, etc.
Business sees those coming, and they're only going to do essential hiring. No expansion, no job creation.
1. Posted by Weegie | October 29, 2009 11:09 AM |
Score: 4 (4 votes cast)
Posted on October 29, 2009 11:09
2. Posted by James H | October 29, 2009 11:19 AM | Score: 5 (5 votes cast)
Unemployment's going to be a problem for a while yet, I think. For one, employment is always a lagging indicator. For two, can we even be sure the lost jobs are coming back?
2. Posted by James H | October 29, 2009 11:19 AM |
Score: 5 (5 votes cast)
Posted on October 29, 2009 11:19
3. Posted by Al | October 29, 2009 11:47 AM | Score: 4 (6 votes cast)
This isn't real growth. It's artificially created "growth" resulting from the stimulus infusion. If the only thing sustaining this growth is stimulus funds, we'll just need more and more stimulus money to keep it going...which is not 'growth'...at least not the kind that matters.
3. Posted by Al | October 29, 2009 11:47 AM |
Score: 4 (6 votes cast)
Posted on October 29, 2009 11:47
4. Posted by liberal troll | October 29, 2009 12:03 PM | Score: -8 (8 votes cast)
Thanks President Obama!
4. Posted by liberal troll | October 29, 2009 12:03 PM |
Score: -8 (8 votes cast)
Posted on October 29, 2009 12:03
5. Posted by Ed Schuster | October 29, 2009 1:16 PM | Score: 4 (4 votes cast)
Wait 'til next year when all of the COMMERCIAL loans and balloon payments start to pop.
5. Posted by Ed Schuster | October 29, 2009 1:16 PM |
Score: 4 (4 votes cast)
Posted on October 29, 2009 13:16
6. Posted by Drago | October 29, 2009 3:19 PM | Score: 2 (4 votes cast)
2001 recession ends in November, 2001.
Thanks President Bush!
Funny, I'm googling past reporting and comments regarding the ending of the 2001 recession and can't find any comments from liberals crediting Bush.
Why do you suppose that is?
6. Posted by Drago | October 29, 2009 3:19 PM |
Score: 2 (4 votes cast)
Posted on October 29, 2009 15:19
7. Posted by Drago | October 29, 2009 3:25 PM | Score: 2 (4 votes cast)
As a business consultant, I am currently working with a relatively small client (
However, their direct concern over the policies of the Obama administration is giving them pause. Instead of 20 new employees, this company will only commit to 4 new hires. They are asking the other employees to increase their hours and even work some Saturdays.
16 new hires that are justified by market conditions but won't because of Government policy!!
Thanks Obama!! Also, on behalf of the employees that won't be hired, thanks Liberal Troll!
7. Posted by Drago | October 29, 2009 3:25 PM |
Score: 2 (4 votes cast)
Posted on October 29, 2009 15:25
8. Posted by Drago | October 29, 2009 3:26 PM | Score: 2 (4 votes cast)
Previous comment: small client (
8. Posted by Drago | October 29, 2009 3:26 PM |
Score: 2 (4 votes cast)
Posted on October 29, 2009 15:26
9. Posted by Drago | October 29, 2009 3:27 PM | Score: 2 (4 votes cast)
Oh, now I get it.
Previous Previous comment: small client ("less than" $35M in annual revenue)
9. Posted by Drago | October 29, 2009 3:27 PM |
Score: 2 (4 votes cast)
Posted on October 29, 2009 15:27
10. Posted by GarandFan | October 29, 2009 11:19 PM | Score: 0 (0 votes cast)
"This certainly meets the classical definition of the end of a recession."
Somewhere George Orwell is laughing his ass off!
10. Posted by GarandFan | October 29, 2009 11:19 PM |
Score: 0 (0 votes cast)
Posted on October 29, 2009 23:19
11. Posted by SCTA | October 30, 2009 9:48 AM | Score: 0 (0 votes cast)
This is a false indicator in my opinion. What would have been the growth without the artificial bubble caused by the Cash for Clunkers (better know as Obama Pimps Your Ride) and the wonderful homeowner tax credit program that even allows four year olds to claim it? I am willing to bet if you take away the bump from these two programs, not even accounting for all of the banking sleight of hand going on by Geitner and Bernacke, there would nto have been an increase. 4th quarter and holiday season will be the honest judge.
11. Posted by SCTA | October 30, 2009 9:48 AM |
Score: 0 (0 votes cast)
Posted on October 30, 2009 09:48