recession ending?

[Dave Backus]

Today's GDP numbers tell us that the rate of decline in GDP has
fallen. In the second quarter, US growth was -1% (annualized), which
is what passes for good news these days. Monthly numbers (there are a
couple firms that estimate monthly GDP from other indicators, see the
third link) show that GDP is starting to tick up. You never know for
sure what the future will bring, but it looks like the worst is behind
us.

Equally interesting: Japan, Germany, and France seem to have hit
positive growth ahead of the US (last link). You might ask yourself
why -- and let me know when you have an answer or two.

Links:
http://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm
http://www.bloomberg.com/apps/news?pid=20601087&sid=azI0yaRuDO1E
http://www.econbrowser.com/archives/2009/08/monthly_gdp_est.html
http://blogs.wsj.com/economics/2009/08/13/economists-react-signals-recession-may-be-over-in-europe/