Defining an 'Easing' Recession

Optimism Bypasses Consumers Retail Sales, Foreclosure Data Show Outlook Remains Bleak for Households By Annys Shin and Ylan Q. Mui Washington Post Staff Writers Friday, August 14, 2009 Retail sales dipped last month, while foreclosure filings soared, signaling that the economic pressures facing households have not let up even as the recession appears to be easing. . . . Consumer spending accounts for about 70 percent of the nation's economic output and in the past has helped bring the country out of recession. But rising unemployment could constrain spending and slow growth, economists said. Twenty months into the recession, the economy is still shedding jobs, albeit at a slower pace than six months ago.

A report from the Labor Department published Thursday shows that the number of people filing for unemployment benefits for the first time rose last week to 558,000, up 4,000 from the previous week. The four-week moving average, which is less volatile, rose by 8,500, to 556,500. . . . J…