What Recession?



A recession is defined as two or more consecutive quarters of negative growth of real gross domestic product. For some time now, the lefties have been crowing that the US economy is going into recession, scarcely unable to conceal their delight.



So, the economy grew at the positive rate of 0.6 percent during the first quarter. This in spite of the fact that residential fixed investment dropped by 26.7%.

We don't have a recession. Perhaps real GDP might drop in the second and third quarters of this year, but we won't know that until some time in November.