Economy In Recession, But It Will Be Short
By: Web Producer
Updated: April 29, 2008
U.S. Economy In Recession, But It Will Be Short
The U.S. economy is either already in a recession, or soon will be.
"USA Today" polled 52 economists, with two-thirds of them saying the U.S. economy is in recession.
When asked whether the economy will be in a recession soon, 79 percent agreed that it would contract at some point in 2008.
However, the economists agree that the recession will be a short and shallow one.
The Commerce Department will report tomorrow on its initial measure of gross domestic product for the first quarter.
The Federal Reserve will also be setting a target tomorrow for its key federal funds rate which broadly affects borrowing costs.
(Copyright 2008 by Newsroom Solutions)
RNS-04-29-08 0420CDT
