Economists Concur: It’s a Recession

Posted by Myrna the Minx on March 13, 2008 | Comments (1) | Trackbacks (0)

The U.S. has finally slid into recession, according to the majority of economists in the latest Wall Street Journal economic-forecasting survey, a view that was reinforced by new data showing a sharp drop in retail sales last month.

“The evidence is now beyond a reasonable doubt,” said Scott Anderson of Wells Fargo & Co., who was among the 71% of 51 respondents to say that the economy is now in a recession.

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