Friday, May 1, 2009
This is perhaps the best of all the charts that show the economy bouncing off the bottom. Although the ISM manufacturing index still reflects contraction, there is a lot less of it. As this chart suggests, we're likely to see second quarter GDP growth that is only modestly negative. It's not a stretch to say that the recession could end before mid-year, which happens to have been my forecast in late December.
Posted by Scott Grannis at 7:43 AM