TITLE

The Economy Sucks. But Is It '92 Redux?

AUTHOR(S)
Gross, Daniel; Harris, Ashley; Murr, Andrew
PUB. DATE
January 2008
SOURCE
Newsweek (Pacific Edition);1/21/2008 (Pacific Edition), Vol. 151 Issue 3, p28
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports on the slump in the U.S. economy. Economists at financial service companies Merrill Lynch, Morgan Stanley, and Goldman Sachs are all predicting some level of recession for 2008. The U.S. unemployment rate shot up from 4.7 to 5 percent in December 2007. In reaction to economic concerns, consumer spending, which accounts for 70 percent of U.S. economic activity, has fallen, which has in turn caused more economic problems. The state of the U.S. housing market is also discussed.
ACCESSION #
28542322

 

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