G-20 Summit: 6 Countries in Recovery

The U.S. economy appears to be stabilizing after declining for four straight quarters, but the recovery has been tepid so far.Financial markets have shown signs of improvement, and interbank lending has largely returned to normal. Consumer spending is still shrinking due to ongoing job losses and difficult credit conditions, but it has been stabilizing over the past quarters. Furthermore, home sales and new home construction are beginning to make a long-awaited comeback. The massive $787.2 billion stimulus bill is also expected to give GDP a boost in the current quarter."The recession is very likely over at this point," Federal Reserve Chairman Ben Bernanke said last week. But he also added, "It's still going to feel like a very weak economy for some time."

• The G-20's six largest economies took a big hit during the global recession in the past year and a half. Challenges remain but most appear on the path to recovery. Since 2008, US GDP has rapidly gone downward for straight 4 quaters, but after quarter 1 in 2009, after US quarter 2 economy has made rebound.