By Some Reliable Measures, Recession Is Over

(New York Times – Floyd Norris)

The worldwide recession appears to have ended, with surveys showing manufacturing activity is on the rise nearly everywhere.

“It is the emerging markets that are leading, with the U.S. following and Europe lagging,” said Chris Williamson, the chief economist of Markit, a company that surveys manufacturers in many countries. The surveys, conducted in the United States by the Institute of Supply Management and in other countries by Markit, measure not the level of manufacturing output but the way it is changing. The surveys have a reputation for showing turns in the economy, often before other indicators do. Read more here.