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Recession Expectations

While the U.S. economy isn't "officially" in recession yet, most economists agree recession has arrived. And, as correspondent Suzanne Pratt reports, those economists are now trying to pinpoint just how long and how deep this recession will be.



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Table: GDP Forecasts

Related NBR Stories & Links

• 11-05-08: Recession Worries Still Weigh Heavy on Wall Streetl
• 10-09-08: "Commentary" - Recession Not Depression
• 08-01-08: The Unemployment Picture Shows Signs of Recession
• 04-08-08: Recession Worries Surface Among Fed Policy Makers

External Links/Articles*

• Bureau of Economic Statistics (BEA)
  The BEA is part of the US. Department of Commerce. This links to the November 25, 2008 press release announcing the U.S. Gross Domestic Product (GDP) preliminary number for the third quarter of 2008.
• Bureau of Labor Statistics (BLS)
  The BLS is part of the U.S. Department of Labor. Look in the right hand column of the BLS website to find the latest U.S. unemployment rate as well as a link to historical unemployment data.
• Federal Reserve Bank of Philadelphia
  The Philadelphia Fed is part of the U.S. central banking system. This links to a press release the Philadelphia Fed issued on November 17, 2008 titled, "Fourth Quarter 2008 Survey of Professional Forecasters." The subtitle reads, "Forecasters State Views on Recession and a New Fiscal Stimulus Package."
• National Bureau of Economic Research (NBER)
  NBER is "a private, nonprofit, nonpartisan research organization dedicated to promoting a greater understanding of how the economy works." This links to a table titled, "U.S. Business Cycle Expansions and Contractions." It is a historical list of economic cycles in the US. from 1854 to 2001 and includes each cycle's duration in months.

*Clicking these external links will take you off the NBR web site on PBS.org. NBR has no affiliation with these sites.