The newly released census reports that Arizona's population was just about 6.4 million as of April 1, 2010 — a number considerably lower than estimated. In fact, the Census Bureau's own 2009 estimate was 204,000 too high, and the Arizona Department of Commerce overshot reality by 291,000.

The Great Recession ended in the second quarter of 2009, according to the National Bureau of Economic Research. Nonetheless, public perception of the health of the economy remains gloomy many months later.

Economists like to talk about the shape of the economic recovery. Ideally, it would have been V-shaped: a rapid, dramatic upswing following the recession. Several months into the recovery, which technically began in June 2009, economists were predicting a still-not-shabby U-shape.

Arizona's economic recovery will continue to move at a glacial speed in 2011 — but at least it's moving. The coming new year will see an increase in job creation, a rise in population and even a modest increase in single-family home permits.

After the turkey trimmings are stowed in the fridge, some 138 million shoppers are expected to hit the mall on Friday — up 4 million from last year.

Gross Domestic Product (GDP), the measure of the nation's output of goods and services, grew by 2.5 percent in the third quarter of the year, according to recently revised figures from the U.S. Bureau of Economic Analysis.

The advance report on third quarter economic growth (released October 29) was not really bad news. After all, Gross Domestic Product (GDP) was up by 2.0 percent, not on the decline as it would be in a double-dip recession.

The Economic Club of Phoenix opened its new season October 28, 2010. "The Economic Minute" is a monthly thumbnail update that is a regular feature at Economic Club luncheons. This month, W. P. Carey Dean Robert Mittelstaedt talked about the dynamics of the sector-driven recovery.

With the most accurate economic forecast among Blue Chip survey participants for the years 2006, 2007, 2008, and 2009, Dr. Sherry Cooper of BMO Financial Group is the winner of the 2010 Lawrence R. Klein Award for Blue Chip Forecast Accuracy.

As the fourth quarter begins, most economy-watchers have lost any hope that 2010 will be a year of strong growth. Instead, analysts now are expecting that it may be several years before output expands at a consistent pace that is vigorous enough to make a sizeable dent in unemployment rates.