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Friday, October 30, 2009

The Economic Recovery is Sustainable Says ECRI

Lakshman Achuthan of the Economic Cycle Research Institute (ECRI) spoke with CNN this morning about the role of stimulus in the economic recovery, how "recovering" is quite different from "recovered," and when jobs growth can be expected to begin.

Key Points:
  • We would have a recovery even without government stimulus
  • Growth last quarter, the first quarter of recovery, at 3.5%, is higher than the last two economic recoveries.
  • Economic growth will be stronger than many suspect.
  • The broad based nature of the recovery says that good GDP growth will continue at this good rate for some time beyond this "sugar high."
  • There WILL be job growth due to the broad based nature of the recovery. Indicators beyond those stimulated by government spending are showing a strong recovery WITH JOBS is on the way.
Lakshman Achuthan also spoke with Anthony Mason of CBS News today in this video titled "Financial Road To Recovery"

Enduring staggering setbacks for more than a year, the U.S. economy is reportedly now experiencing a noticeable rebound from the recession. Anthony Mason looks at whether it will last, and when firms will start hiring.
  • The recovery is more than the stimulus package.
  • This is very much inline with an economy that is growing of its own merit without government support.
  • The recovery has "begun" but it has not yet "recovered."
  • The economy should start adding jobs next year

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