Tags: Economists | Double | Dip | Recession

WSJ: Economists See Bigger Chance for Double-Dip Recession

By    |   Tuesday, 16 Aug 2011 08:14 AM

Sluggish economic growth, wild financial market and Europe’s woes are leading economists to see a greater chance for a double-dip recession.

A Wall Street Journal survey of 46 economists shows they see a 29 percent likelihood that we’ll fall into a downturn within the next year, up from 17 percent only a month ago. And they see a 13 percent chance that we’ve already entered another recession.

Economic growth totaled a paltry 0.4 percent in the first quarter and didn’t exactly light it up in the second quarter either at 1.3 percent. Meanwhile, the Standard & Poor’s 500 Index of stocks plunged 11 percent between Aug. 3 and Aug. 8.

Some economists say the debate over whether the economy is in slow growth mode or recession is simply one of semantics. "We are probably debating words at this point,” Paul Ballew, chief economist at Nationwide, told the Journal. “A secondary dip is playing out."

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Editor's Note: Economic Meltdown to Unravel in 2012.
See the Disturbing Charts.

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Economists polled by the Journal expect growth of just 1.6 percent for the year as a whole, and a worsening of Europe’s debt crisis could easily make things worse, they say.

Given that the last recession ended only in June 2009, the economy can ill afford another now, many say.

“It would be disastrous if we entered into a recession at this stage, given that we haven’t yet made up for the last recession,” Conrad DeQuadros, senior economist at RDQ Economics, tells The New York Times.




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Sluggish economic growth, wild financial market and Europe s woes are leading economists to see a greater chance for a double-dip recession. A Wall Street Journal survey of 46 economists shows they see a 29 percent likelihood that we ll fall into a downturn within the next...
Economists,Double,Dip,Recession
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2011-14-16
Tuesday, 16 Aug 2011 08:14 AM
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