It's almost over? Or not?

US economy emerges from recession:


The Guardian

 "Suggestions that this figure marks the end of the recession in the US, although technically correct, ignore the relatively low quality of the growth registered in this release. Such suggestions also ignore the likely soft fourth quarter that is now in the pipeline. The US economy is not out of the woods yet."

NY Times

A slower drawdown in inventories was one bright spot in Thursday’s report, as it indicated that businesses have largely sold out their current stock and may rev up orders in the coming months to replenish supplies.
“Everybody had been dealing with a just-in-time status quo,” said Sandra Westlund-Deenihan, president and design engineer for Quality Float Works, a plant in Schaumburg, Ill., that manufactures metal float balls and valve assemblies. “They were living off inventories they’d built up over the last several years. Now they’ve drawn that down and reached a point where they may have to have it ready and back on the shelf again.”

Financial Times

Boosting growth was an upturn in consumer spending, residential investment and strong government spending. The impact of government stimulus measures succeeded in jolting the economy during the latest quarter, as the soon-to-expire first-time home buyer tax credit and the “cash for clunkers” car rebate programme lifted residential investment and chipped away at car inventories

BBC

"It's good to have the economy growing again," said Brian Bethune, economist at IHS Global Insight.
"But we don't think that rate of growth is sustainable because it is
distorted by all the government stimulus.
"The challenge here is to get organic growth - growth that isn't helped by fiscal steroids."

The Economist

It probably ended in June.