The Early Shift

Posted by vriz on 08/13/2009

  Are we, or aren't we?  The debate continues whether the U.S. economy has crossed the threshold of recovery.  Most economists in the Wall Street Journal survey say the recession is over.  But the day-to-day picture is far from rosy, and most U.S. consumers are not experiencing the recovery, yet. Hence the two economic reports that came out today.  July retail sales dipped again, despite the boost in auto sales resulting from a "cash for clunkers" program.  And the initial jobless claims registered 4,000 higher this week. Analysts expected new claims to drop by 9,000 according to Thomson Reuters. Meanwhile two largest European economies, France and Germany, both grew 0.3 percent in the second quarter.

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