Having a look at theses stats below it would seem possible that...

Having a look at theses stats below it would seem possible that the US went into a recession in the first half.

http://www.neatideas.com/data/data/CBI.htm

This has been backed up by a fall in Gross Private Savings which has slumped inline with previous recessions.

http://www.neatideas.com/data/data/GPSAVE.htm

Also, check personal savings rates, they have dwindled to zero over the last few quarters.

http://www.neatideas.com/data/data/PSAVERT.htm


Regards.