Task 4a
page 157
Has the
global economic recession ended?
The Great
Recession is a term used to describe the general economic decline
observed in world markets around the end of the first decade of the 21st century.
According
to The Economist, the American recession
ended in the end of 2009. Most
economists agree about all
of this. Prominent voices like North-western
University's Robert Gordon, Harvard's Jeffrey Frankel, and Stanford's Robert
Hall have declared the recession dead and gone.
The Forbes
writes that the recovery is what most people care about at this point, and it
has been lacklustre at best. Since May 2009, unemployment has fluctuated
between 9.4% and 10.1%. Federal Reserve officials have said in recent months
that consumer demand, the housing sector and bank lending all remain weak. Therefore,
the recession might be over, but in real terms, it is not.
. Since May 2009, unemployment has fluctuated
between 9.4% and 10.1%. Federal Reserve officials have said in recent months
that consumer demand, the housing sector and bank lending all remain weak. Therefore,
the recession might be over, but in real terms, it is not.
This is
only a few opinions, but in the end, they all mean the same; the recession has
ended. However, it does not mean that everything is better.
the same; the recession has
ended. However, it does not mean that everything is better.
Sources:
Fine
SvarSlett