Nasty numbers ahead, but there's light at end of tunnel

WASHINGTON: The nice thing about a deep recession is that it doesn't take much of a rebound to make the official data look healthy even if the economy is not.

Recent readings across many of the world's biggest economies, including the United States, China, Japan, Britain and Canada, suggest the global recession is petering out. What is missing is a catalyst for a sturdy, sustainable recovery.

Figures due on Friday are likely to show that the US economy contracted for a fourth consecutive quarter, the first time that has happened in records dating to 1947.