There's been a certain amount of commentary on today's GDP release. An annualised growth rate of 0.4% for 2009Q3 is better than zero - and it's at the 80th percentile of the predictive density generated by my toy predictor - but it's not what you'd call a strong recovery.
Happily, there's better news about GDI. The rebound in commodity prices has generated in a recovery in our terms of trade, resulting in an increase of our buying power of 3.3% at annual rates.
(See this post for an explanation of the difference between GDP and GDI).
With any luck, this will be the last post filed under the 'current recession' category.