Analysis: Economic recovery is weakest since World War II

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Economists say the recession that ended three years ago this summer has been followed by the feeblest recovery since the Great Depression.

Since World War II, 10 U.S. recessions have been followed by a recovery that lasted at least three years, and the one that began in June 2009 is the weakest, according to an Associated Press analysis.

The ugliness goes well beyond unemployment, which at 8.3 percent is the highest this long after a recession ended. Growth has never been weaker in a postwar recovery. Consumer spending has never been so slack. Only once has job growth been slower.

More than in any other post-World War II recovery, people who have jobs are hurting: Their paychecks have fallen behind inflation.

Many economists say the agonizing recovery from the Great Recession, which began in December 2007 and ended in June 2009, is the predictable consequence of a housing bust and a grave financial crisis.

Click here for the full report.

The effects of a slowing global economy caught up to Deere & Co. in its fiscal third quarter, as profits rose 11 percent but fell well short of Wall Street’s expectations.

Deere cut its revenue prediction for the year and investors reacted swiftly. Shares dropped more than 7 percent.

The Moline, Ill., company said Wednesday that it earned $788 million, or $1.98 a share, for the quarter that ended July 31, compared with $712.3 million, or $1.69 a share, for the same period last year. Analysts expected $2.31 a share in the most recent quarter, according to FactSet.

Click here for that report by The Washington Post.


Senator visits Tiara Yachts

Sen. Gary Peters, D-Mich., toured the Tiara Yachts headquarters in Holland, Mich., to meet the workers and learn about the impact of the company on the local economy, as well as the impact of boating on a state and national level.

Strong boat sales in February

Boat sales were up 2.5 percent last month in the main powerboat segments, according to Statistical Surveys Inc. data from 28 early reporting states, and up 1.1 percent across all categories.

Mixed messages on the economy

Markets tumbled on Monday as embattled Facebook sparked a tech selloff — the most recent illustration of the mixed economic indicators prevalent in the news.

Glastron adds Maine dealer

Expanding its dealer network in Maine, Glastron boats, a division of Groupe Beneteau’s Cadillac, Mich., operations, has named Branch Pond Marine as the newest addition to their distribution channel.