The Corner

So far, it’s just a slowdown

Not a recession yet. So say the new GDP numbers:

[T]he economy grew 0.6 percent in the first quarter. Now that’s not a robust number by any means, but it’s not so bad given all the worry out there that the economy is headed off a cliff. Before you declare a recession, as many economic pundits have, shouldn’t the economy, well, actually recess a bit—if only for a quarter? Remember, the shorthand rule for declaring a recession is back-to-back quarters of negative growth.

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