Key Data Still Point to Recession, Panel Says

Despite budding signs that the worst may be over for the U.S. economy, most key data remain at levels that indicate a recession, according to a panel of economists deemed the country’s recession arbiter.

Although some encouraging data have rolled out in recent weeks, the National Bureau of Economic Research’s business cycle dating committee said that among the four U.S. indicators it watches--employment, industrial production, wholesale-retail trade and income--only income has not performed in a way typical of a recession in the last eight months.

The panel said income has fared better than the other key indicators partly because of falling import prices and continued growth in worker productivity.