Forecasters See Weak Economy Even If Housing, Credit Improve

By: Associated Press Email
By: Associated Press Email

Washington (AP) First the good news: the worst of the painful housing slump and the credit crunch might come to an end this year. Now the bad: the economy will weaken further and unemployment will rise.

That's the latest outlook from forecasters in a survey by the National Association For Business Economics.

A growing number of economists believe the country is on the brink of a recession or in one already, dragged down by all the problems in housing, credit and financial markets.

Fifty-six percent of the economists surveyed think the economy has started or will enter a recession this year. That's up from 45 percent in a survey in February.

The economists forecasting recession think it will probably be short and shallow.


KKCO NBC 11 News 2531 Blichmann Avenue Grand Junction, CO 81505 Station Phone: 970.243.1111 Business Fax: 970.243.1770 Newsroom Fax: 970.245.3793 News Tip & Contest Line: 970.255.8477
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 19074454