Recession more likely this year - survey (AP/CNN) {DUHH!}

[eppur_se_muova]

Business economists see growing evidence that the country has toppled into a recession.

February 25 2008: 12:35 PM EST

WASHINGTON (AP) -- Job growth is faltering, consumer confidence plunging. The fallout from the worst housing slump in a quarter-century grows. Wherever you look, the signs are unmistakable that the economy is in trouble.

Because of all the bad news, more and more economists foresee the country falling into a recession, according to the latest survey by the National Association for Business Economics.

The group said in a report being released Monday that 45% of the economists on its forecasting panel expect a recession this year. In September, only one in four economists was pessimistic enough to put the chance of a recession at 35% or higher.

The drumbeat of bad news since last fall has caused many analysts to consider a recession more likely now, said Ellen Hughes-Cromwick, chief economist at Ford Motor Co. (F, Fortune 500) and NABE's current president.

The survey shows that 55% still believe the country will be able to skate by without falling into an actual downturn, typically defined as two consecutive quarters of declines in the gross domestic output, the broadest measure of economic health. All the analysts, however, expect growth to slow considerably this year.
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more: http://money.cnn.com/2008/02/25/news/economy/economists_recession.ap/index.htm

"We're recessing? Bring it on! Recess was my best subject in school!" -- W

[madrchsod]

1. we are in a recession right now

as soon as a 100+ year old manufacture here starts looking for help again the recession will be over. they have kept track of recessions since they started their business in the late 1800`s