Thanks to a client of mine for pointing me to this great economic commentary entitled "The Recession That Never Was is Now Over" from Briefing.com.

Some interesting thoughts from the article in regards to whether we have been or are experiencing a recession . . .

"Recession is a term that applies to the entire economy. Recession comes from the word "recede." It means DOWN.

First quarter real GDP was UP. Continued increases in consumer spending and exports will keep GDP growth positive in the second quarter. The fiscal stimulus will see to that.

There will not be a single down quarter for GDP. This is NOT A RECESSION."

And touching on why everyone seems to think we're in a recession . . .

"Because the housing problems touch so many people, it is easy for journalists and analysts to overemphasize housing prices, and similarly, gas prices. The obsession with these two issues blinded many to the reality of the limited mathematical implications of those issues, and to the surprisingly resilient and strong sectors in the economy."

Again, be sure to read the full article here, from Briefing.com.