At least by one standard, we’re not in a recession: the economy grew .6% in the first quarter. While the numbers are far from awesome, a recession is classically defined as a contraction of GDP, and that didn’t happen. However, with gas and food and pizza slice prices rising, it’s not to say that we couldn’t be heading towards one.

Economy limps ahead at a 0.6 percent pace in first quarter, better pace than expected [AP] (Thanks to Bladefist!)

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