Skip to main content

OPINION: Is the recession over?





The "real" recession started in September 2008, not December 2007, according to economists Brian S. Wesbury and Robert Stein, and they believe it will be over by mid-2009.

The Forbes.com columnists point to the 1 percent annual rate growth in real gross domestic product between December 2007 and August 2008, which they say "doesn't look like a recession."

The economy shrank at a rate of 5.5 percent between September 2008 and March 2009, and that's why Wesbury and Stein say the recession began last September, according to their report on Forbes.com

Indicators they say show the economy is recovering include the possible peak in new claims for unemployment insurance, consumer spending increasing at a 2.2 percent annual rate in the first quarter, the rise in consumer confidence in April, and the bottoming of commodity prices in February.

Click here for the complete report.

Related

BOB-CONFERENCE

MMTA Sets Date for Conference

The educational Business of Boating Conference will be held in Foxboro, Mass., with in-person and remote attendance options.

AKZONOBEL

AkzoNobel Nominates Board Member

Ben Noteboom is expected to be elected chair to succeed the retiring Nils Andersen.

MARINE-MARKETERS

Neptune Awards Adds Category

“Boat Show Marketing” will recognize promotional efforts for shows, and entries will be accepted until Dec. 18.

WOMEN-SAILING

Sailing Convention for Women Returns

Postponed during Covid, the event will include on-water training, networking opportunities and workshops.

Norm

MBIA Names Board Members

The Michigan Boating Industries Association elected four new directors and named the officers who will serve next year. Also, the 2023 schedule for “Ladies Let’s Go Fishing!” is taking shape.

CL.YACHTS

CL Yachts Expands Dealer Network

The Hong Kong-based builder added retail locations in Australia, Dubai, Singapore and Macau.

LEGEND.BOAT.FIX

Legend Boats Partners With Boat Fix

The Canadian builder will offer the telematics system, which provides tracking, monitoring and 24-7 service, on new models starting next year.

MARINEMAX

MarineMax Establishes Technology Division

The company’s Boatyard and Boatzon units will operate under the new entity, New Wave Innovations.