"Global Economic Recovery Is Growing, Says IMF." This Daily Mail headline was typical of the media's response to signs of economic recovery in August.
Marxists face two dangers when trying to assess the state of the economy. The first is to attempt to shoehorn the facts to fit with a preconceived account of crisis. The second is to simply accept at face value the analysis put forward by economists.
The figures for the second quarter of 2009 do show a low level of growth in Germany and France. Their GDPs (a measure of the total goods and services produced) rose by 0.3 percent. Japan's grew even faster and there are some indications that the US recession is bottoming out. However, the signs of recovery remain weak.