U.S. in recession, jobless to peak at 7.5 percent: survey »

Posted By STONERS 12 months ago in Business & Finance
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The U.S. economy is in recession and will contract at a faster pace in the fourth quarter, extending the decline into early 2009 as high unemployment crimps consumer spending, a survey showed.

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    STONERS12 months ago

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    "Business economists became decidedly more negative on the economic outlook for the next several quarters as a result of the intensification of credit market stresses and evidence of spillover to the real economy," said NABE President Chris Varvares."

    "Credit conditions continue to be tenuous. Despite the hefty liquidity injections by the Fed and the Treasury, the majority of NABE panelists believe that tight credit conditions will continue."

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    doppich12 months ago

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    7.5% is a pretty optimistic prediction. Wachovia is predicting 9%. And that's U3. U6 is already at 11.8%

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