James Pethokoukis asks, “Dude, where’s my recession?” The economy grew 0.6 percent in the first quarter 2008. A recession is defined as two consecutive quarters of negative growth, so the soonest we could say there was a recession this year is October. (Via Instapundit.)
This news is actually pretty good, in a beats-low-expectations kind of way. The press will probably notice it early next year.
UPDATE: Unemployment falls to 5 percent.
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