Wednesday, February 10, 2010

It’s official: The recent economic downturn will forever be known as ‘The Great Recession’

Ever since some clever chap called our recent economic turmoil “The Great Recession,” media everywhere have adopted the label.
Now the folks at the Associated Press have included it in the AP Stylebook, a guide widely used by newspapers for consistency in spelling, capitalization and other style points.
The AP sent out an alert today saying, “A new entry has been added to the AP Stylebook Online.”
Here it is:

Great Recession

The recession that began in December 2007 and became the longest and deepest since the Great Depression of the 1930s. It occurred after losses on subprime mortgages battered the U.S. housing market.

Funny – the AP didn’t provide an end date for the period. Are we still in the Great Recession?
Many economists have said the recession is over. But I’ll wait for word from the AP.

Photo: Cover of the book “The Great Recession” (2009) by the University of California, Berkeley, Graduate School of Journalism.

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