Regarding The Economy

The U.S. has seemingly avoided a recession. The technical definition of a recession is two consecutive quarters of declining GDP growth. The new economic numbers from the BEA show that the U.S. GDP growth stabilized at 0.6% for the first quarter of 2008. After real GDP growth dropped from 4.9% in the third quarter of 2007 to 0.6% in the final quarter of 2007, many analysts began using the word "recession" quite freely. However, the economic numbers prove that the U.S. economy was resilient and avoided technical classification as a recession.