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American president Barack Obama yesterday said, after the publication of data on the United States GDP for the third quarter, that "recession is about to dissipate", but warned there is still a lot left to do to stabilize the economy. US economy had a growth of 3.5% YOY, beating expectations, after four quarters of contraction, according to data from the Trade Department.
At the same time, American Treasury Secretary Timothy Geithner, said that the recession continues to be painful for millions of American citizens, despite the fact that the economy has resumed growth. "Unemployment remains at unacceptable levels for anyone who is left without a job and for any family threatened to remain homeless, and for any company that can"t access to loans, the recession remains painful", Geithner said.
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