Just when you think the respite is upon us, the U.S. Chamber of Commerce says:
Today's GDP report is kind of the last hurrah for the U.S. economy, said at a press conference today. ``We've begun the process of slipping into a good old-fashioned recession -- Martin Regalia, chief economist for the U.S. Chamber of Commerce
Businessweek has some breakdown.
The GDP jumped to 3.3% but it's mostly due to exports (yea!) which were a surprising jump. Unemployment still in the tank and the housing is still where it was, dead, rotting on the floor.
See, trade matters.