Recession Officially Over
Led by consumer spending and low inflation, US Gross Domestic Product grew at 3.2% in the first quarter of 2010. This marks the third consecutive quarter of positive growth, which is the defintion of a growing economy.
On the business side, the influential Chicago Business Barometer rose to 63.8 in April, the highest level in five years. This number has remained over 50, which signifies growth, for seven straight months.
The employment component of the Chicago Business Barometer has continued to lag other measures, but it has remained over 50 for four straight months, rising to 57.2 in April from 53.1 in March.