USA emerges from recession

The USA has finally emerged from the longest, most severe downturn in economic activity to hit the country since the Great Depression of the 1930's. Recording a return to positive economic growth for the September 09 quarter is a step in the right direction....but it does not mean that all the pain will suddenly go away! Unemployment figures have emerged from freefall but the reality is that 10% of Americans are currently unemployed, and many more are under-employed. Housing prices have generally stabilized but new home sales are still weak. It will take some time for consumer and business confidence to recover.....but things could be worse than they are in the USA - just ask the British and Irish.....