End of Recession (Beginning of Recovery) Called

Results for the Third Quarter of 2009 have been announced:

Economy returns to growth after a year of declines

By Lucia Mutikani

WASHINGTON (Reuters) – The U.S. economy grew in the third quarter for the first time in more than a year as government stimulus helped lift consumer spending and home building, fueling an unexpectedly strong advance.

Signaling the end of the worst recession in 70 years, the Commerce Department on Thursday said the economy expanded at a 3.5 percent annual rate in the July-September period, snapping four down quarters with its fastest growth pace since the third quarter of 2007.

This certainly meets the classical definition of the end of a recession.

Hat Tip: HotAir

Both Sides of His Mouth