Dennis Gartman: The Recession Is Now Over
The recession has ended. In light of the spike in jobless claims AND in light of the recent upward turn in the Ratio of the Coincident to Lagging Indicators, we are making this statement as clearly and as unequivocally as we are able to make one. The recession is over. The worst of the economic news shall all soon be behind us.
Make no mistake about this, however, it will be months… even perhaps a year or more… before the NBER meets and officially decides that the recession has ended.
From today's "The Gartman Letter" (subscription required).
MP: See related post CD here on the typical 20-21 month lag for the NBER to report that a recession had officially ended, meaning that if the recession is now over, it might not be official until 2011.