The Manufacturing and Trade Sales and Inventories report shows a -1.1% decrease in sales and an +0.1% increase in inventories for June 2012. Sales declined -1.1% for manufacturers, -0.8% for retailers and -1.4% for wholesalers. This is the 3rd month in a row for declining sales and this is the largest monthly percentage decrease since March 2009.
The National Bureau of Economic Research, the organization which dates recessions, cannot declare the end date of this recession, according to the New York Times.
The committee plans to announce on Monday that it cannot yet declare an end to the recession that began in December 2007, several members indicated on Sunday.
The green shooters assuredly will be taking their Prozac with this news.
A committee of economists at the nonprofit National Bureau of Economic Research, arbiter of when U.S. recessions begin and end, plans to issue a statement Monday with its latest assessment of the economic downturn that began in December 2007.
This is from the News Hub. It's a video with Anirvan Banerji, director of research at Economic Cycle Research, describing in layman's terms, how overall U.S. economic growth trend lines are in decline, implying the U.S. will have more frequent recessions. He confirms what is implied in this post, Let's Chat Labor Productivity.
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