The risk of recession is rising, thanks to the recent housing collapse and credit crunch, rising oil prices, slowing employment growth, and lack of consumer confidence, according to a new report.
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The Manufacturers Alliance/MAPI Quarterly Economic Forecast forecasts that inflation-adjusted GDP growth will slow to 2.1 percent in 2007 and to 1.3 percent in 2008. The U.S. economy in the past has experienced a recession from fewer shocks than we are now experiencing,” said Daniel J. Meckstroth, Manufacturers Alliance/MAPI chief economist.
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“By itself the housing collapse would probably not cause a recession, but when combined with a credit crunch, falling housing prices, record oil prices, falling corporate profits, low consumer confidence, and decelerating …
MAPI Report: Risk of Recession is Rising
The risk of recession is rising, thanks to the recent housing collapse and credit crunch, rising oil prices, slowing employment growth, and lack of consumer confidence, according to a new report.
  ;
The Manufacturers Alliance/MAPI Quarterly Economic Forecast forecasts that inflation-adjusted GDP growth will slow to 2.1 percent in 2007 and to 1.3 percent in 2008. The U.S. economy in the past has experienced a recession from fewer shocks than we are now experiencing,” said Daniel J. Meckstroth, Manufacturers Alliance/MAPI chief economist.
  ;
“By itself the housing collapse would probably not cause a recession, but when combined with a credit crunch, falling housing prices, record oil prices, falling corporate profits, low consumer confidence, and decelerating …
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