Moderator in SFF, Notebooks, Pre-Built/Barebones
- Aug 23, 2003
Most politicians are saying short-term correction, but most economists are predicting a deep recession. Which one is it? Only time will tell, but news of huge job cuts, record low consumer confidence and negative economic growth are just compounding the issues we're already facing.
TextEmployers slashed 63,000 jobs in February, the most in five years and the starkest sign yet that the country is heading dangerously toward recession or is in one already.
TextAccording to the RBC Cash Index, confidence sank to a mark of 33.1 in early March, down from 48.5 in February. The new reading was the worst since the index began in 2002 and surpassed the previous low reached in February.
President Bush's top economic adviser said Friday the nation's economic growth could dip into negative territory for the current quarter, an assessment that tracks with many outside experts but is the most pessimistic to come so far from the White House.