Wednesday, January 23, 2008
I am not saying that those who have called the state economy to be in recession are wrong. I mean no criticism of the state economist, who may have more data (and more recent data). And I do not make light of the fact that certain segments of the economy have experienced some turbulent times. But the word "recession" describes not sectoral decline, not a series of anecdotes, but an experience broadly shared. I simply argue that the case is not yet proven.The headline: Economic signs don't point to 'recession'.
Of course, it could be I find enough data in the next few weeks to agree with others who say we are. That headline doesn't help my credibility one bit.