An Upside-Down Recovery Goes Back to Square One: Caroline Baum
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Jan. 13 (Bloomberg) -- The U.S. recession may have ended inJune 2009, according to the official arbiter of the businesscycle. But by all signs, the recovery is just beginning.
Expected fourth-quarter growth of 3 percent to 3.5 percentis already being dismissed as another flash in the pan: beenthere, done that. After all, in late 2009 and early 2010 theU.S. economy produced three consecutive quarters of real gross-domestic-product growth just shy of 4 percent, only to see itfade. Real GDP rose less than 1 percent in the first half of2011.