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The Bloomberg report and the figures Jérôme cites are not talking about feelings, or people's perception of the economy, but of a downward revision of growth numbers over a dozen quarters.
by afew (afew(a in a circle)eurotrib_dot_com) on Thu Jul 31st, 2008 at 01:02:30 PM EST
[ Parent ]
They have revised 3 year old quarterly GDP numbers!!?
Ils sont fous, ces Americains!

However, Europe is in imminant danger of a recession, when taking 2 consecutive quarters of negative growth as measure. I'm almost sure, Q2 was negative in Europe.
While the US could have had a recession in q4,07/q1,08 and being already in recovery - or of course in the middle of a long recession, we may get that information probably, uhmm, 2011.

Der Amerikaner ist die Orchidee unter den Menschen
Volker Pispers

by Martin (weiser.mensch(at)googlemail.com) on Thu Jul 31st, 2008 at 02:34:27 PM EST
[ Parent ]
My point was about the generally received media narrative, that avoids saying "recession" about the US, but doesn't shrink from it re Europe.
by afew (afew(a in a circle)eurotrib_dot_com) on Thu Jul 31st, 2008 at 03:49:50 PM EST
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