It's official: U.S. in recession all of 2008 Tuesday, December 2, 2008
12-01) 19:42 PST -- It took seven economists 11 months to decide what should seem obvious given all the foreclosures, bank failures and layoffs - the United States is officially mired in a recession.
Still, Monday's declaration by the National Bureau of Economic Research that the economy has been in retreat since last December sent Wall Street into a bearish fit that knocked nearly 9 percent off the S&P 500 index.
don May 28, 2012
at 1:37am
It's official: U.S. in recession all of 2008 Tuesday, December 2, 2008
12-01) 19:42 PST -- It took seven economists 11 months to decide what should seem obvious given all the foreclosures, bank failures and layoffs - the United States is officially mired in a recession.
Still, Monday's declaration by the National Bureau of Economic Research that the economy has been in retreat since last December sent Wall Street into a bearish fit that knocked nearly 9 percent off the S&P 500 index.