WASHINGTON (AP) — Further evidence the recession is ending came in a report Thursday confirming that the economy shrank at an annual rate of just 1 percent in the spring. Many analysts say growth likely returned in the current quarter. Smaller dips in consumer spending and other areas during the April-June period led some economists to raise their forecasts for the July-September quarter. But with unemployment aid claims stubbornly high, Americans may benefit little from a recovery if jobs remain scarce and spending stays too low to fuel a strong rebound.- – – -Contact The Daily Reveille’s news staff at [email protected]
Economy’s small drop in second quarter hints end of recession
August 26, 2009