Panel Declares Official Recession ; Few Surprised, but Dow Drops
The Washington Times › December 02, 2008
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Summary
It's official.
After months of depressing economic indicators, mind-boggling financial bailouts, mounting job losses and collapsing retirement accounts, an elite team of economists formally pronounced what most of us already knew: We're in a recession.See the full content of this document
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Panel Declares Official Recession ; Few Surprised, but Dow Drops
In fact, we've been in a recession for a year, according to the National Bureau of Economic Research (NBER), which reached its consensus during a conference call Friday and shared it with the rest of us Monday.
The revelation, while less than shocking, still had the power to move the markets. The Dow Jones Industrial Average plummeted nearly 68...See the full content of this document
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