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A few more cities and states moved into recovery in November, according to the latest data, but most areas were still in a "moderating" recession, meaning the situation was still deteriorating, but more slowly, according to Andrew Gledhill, an economist with Moody's Economy.com.
“For a lot of these areas it hasn’t gotten measurably better, it just stopped getting worse," he said. "But there still hasn’t been the distinct uptick we’d like to see. This recession has been so deep, it’s going to take a long time to get back to where we were pre-recession.”
After the last recession in 2001, the swing to expansion was more rapid, according to the Adversity Index data, which goes back to 1994. In March 2002, most states were just coming out of recession; by September of that year expansion had taken hold widely.
For the entire article, go here
“For a lot of these areas it hasn’t gotten measurably better, it just stopped getting worse," he said. "But there still hasn’t been the distinct uptick we’d like to see. This recession has been so deep, it’s going to take a long time to get back to where we were pre-recession.”
After the last recession in 2001, the swing to expansion was more rapid, according to the Adversity Index data, which goes back to 1994. In March 2002, most states were just coming out of recession; by September of that year expansion had taken hold widely.
For the entire article, go here
