Watchlist Sponsored By :
- Look Ahead: 'Risk On' Attitude Could Fuel Rally Further
- European Commission Objects to Sun Micro-Oracle Deal
- Obama Sees Strains Unless US, China Balance Growth
- JPMorgan Lifts Salary Freeze Amid Recovery
- Can Apple Top Microsoft as Most Valuable Tech Firm?
- Buffett to Sell Stakes in Norfolk Southern, Union Pacific
- Do You Know Your Coca-Cola Myths?
- Cramer: 5 Stocks to Play the Next Bull Run
- Electronic Arts Beats Street, Announces 1,500 Job Cuts
- Why Google is Paying $750 Million for Ad Mob
- Warren Buffett to Sell Stakes In Union Pacific & Norfolk Southern
- Nov. 9: Unusual Volume Leaders
- The Battered Businesses Behind Housing
- Modern Warfare 2's Record-Breaking Launch
- Merck’s Mega-Monday Morning
- Why are Traders Bullish on This Food Company?
- Profiting From Natural Gas: Strategists
- S&P Stocks Trading at New 52-Week Highs
MOST SHARED
- Obama Sees Strains Unless US, China Balance Growth
- Future of Marketing
- Priceline Crushes Profit Forecasts; Shares Jump
- Mad Mail: Buy the Berkshire Hathaway Split?
- European Commission Objects to Sun Micro-Oracle Deal
- Can Apple Top Microsoft as Most Valuable Tech Firm?
- Oil Tomorrow
- Framed for Porn – By a PC Virus
- Nov. 9: Unusual Volume Leaders
powered by digg
UBS Says US Economy Already in Recession
Topics:Economy (Global) | Economy (U.S.)
Text Size 
The U.S. economy is in recession, albeit a mild one, as a weakening consumer sector has compounded the ongoing problems in the housing and credit markets, according to UBS economists.
Investor Takeaway
"It's not coming, it's here," UBS said in a research report Wednesday.
UBS economists forecast U.S. gross domestic product to fall 0.60 percentage point from the end of 2007 to the middle of 2008.
Last month, the government said the economy grew at an annual rate of 0.4 percent in the fourth quarter of 2007 and expanded 2.2 percent for the entire year, the weakest pace in five years.
The projected mild contraction will be led by the first decline in personal spending since the recession of 1991, UBS said.
Copyright 2009 Reuters. Click for restrictions.
Print
Email
- Do free market libertarians really believe what they say about ethics and shareholder value? The Big Money takes a look.
- Cramer did the research and found eight stocks that lead the pack. Read on to get his top picks.
- On the anniversary of the fall of the Berlin Wall, many in the former Eastern Bloc recall communism fondly.
- Software, biotech firms, even banks are watching a particular Supreme Court argument today.
- From politicians to CEOs to companies, here's your chance to vote for the winners and losers of 2009.
- A new sinister Internet viruses can turn you into an unsuspecting collector of child pornography.
MORE FROM CNBC
TOPIC : Economy (Global)
Data is a real-time snapshot *Data is delayed at least 15 minutes