Economy grows in 3Q, signals end of recession

[RedOctober]

Many news sites are calling the end of the "severe recession" (in a decade or two they will call it a mild depression which what it really was). Now lets hope its not a "W" shaped economic contraction (like the Great Depression was). That being, the economy pulls into recovery, but its not sustainable and drops right back into another economic contraction.

http://news.yahoo.com/s/ap/20091029/ap_o...us_economy

Quote:WASHINGTON – The economy grew at a 3.5 percent pace in the third quarter, the best showing in two years, fueled by government-supported spending on cars and homes. It's the strongest signal yet that the economy has entered a new, though fragile, phase of recovery and that the worst recession since the 1930s has ended.

Going forward, many analysts expect the pace of the budding recovery to be plodding due to rising unemployment and continuing difficulties by both consumers and businesses to secure loans.

"This welcome milestone is just another step, and we still have a long road to travel until the economy is fully recovered," said Christina Romer, President Barack Obama's chief economist. "It will take sustained, robust ... growth to bring the unemployment rate down substantially. Such a decline in unemployment is, of course, what we are all working to achieve."