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According to the latest official statistics, the economy shrank by 0.2 percent in the last quarter of last year, then grew by 0.9 percent and 1.9 percent in the first two quarters of this one. In other words: We have had no recession, and growth is picking up. Employment, a lagging indicator, should revive soon. Unfortunately, inflation is likely to increase, too, the delayed result of the ever-looser monetary policy ...