Watchlist Sponsored By :
- Citigroup Lost $20 Million on Facebook IPO Trades
- Sticker Shock: What College Is Likely to Cost in 18 Years
- JPMorgan to Shake Up Risk Team After Big Loss: Report
- Icahn Raises Stake in Chesapeake, Wants Board Seats
- Marc Faber: Chance of Global Recession Is Now 100%
- Week Ahead: Europe Has Wall Street Bull on Short Leash
- What Happened to Stocks? Most Unloved in 50 Years
- Cool Jobs: From Gold Stacker to Bed Tester
- Many Greeks Moved Their Money Abroad Long Ago
MOST SHARED
- Marc Faber: 100% Chance of Global Recession
- Time for Flash Sales to Adapt or Die
- Citigroup Lost $20 Million on Facebook IPO Trades
- How to Trade on the Jobs Report
- Facebook: The Song — Yes, We're Serious
- China Growth Risks Signal Need for Fiscal Action
- 5 Spots Where the Dollar Buys a Great Vacation
- Spanish Lender Seeks 19 Billion Euros; Ratings Cut on 5 Banks
- Buy Broken Stocks, Not Broken Companies
MOST POPULAR
HOT ON FACEBOOK
UBS Says US Economy Already in Recession
Published:
Wednesday, 20 Feb 2008 | 1:35 PM ET
Text Size 
By: Reuters
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 2010 Thomson Reuters. Click for restrictions.
Data is a real-time snapshot *Data is delayed at least 15 minutes
