Source:http://www.businesscycle.com/ecri-news-events/news-details/economic-cycle-research-what-wealth-effect
Note: The import growth rate only turns negative when there is a recession. The FRED chart is current only as of Q4 2012. It is possible that it is a fluke that in one quarter the imports dipped slightly. However, it is more likely that we are entering into a recession right now.
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