Monday, September 29, 2008

Don't Call It a Recession: Damn Lies and Stats

By Chris Thompson
Mon, Sep 29, 2008 at 7:34 AM

Attentive and virtuous readers may recall when, earlier this month, we mentioned the apparent paradox of economic growth paired with rising unemployment and other indices of misery. If that made you poor wittle brain hurt, consider the problem solved! Turns out that 3.3 quarterly growth rate was just an estimate from the feds, and the Commerce Department has adjusted it down to 2.8 percent. That's more like it.

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