Watchlist Sponsored By :
- Abu Dhabi Will Aid Debt-Fraught Dubai 'Case by Case'
- Banks With The Biggest Exposure to The UAE
- Dubai's Debt Woes Signal New Era for Creditors
- Next Week: Cash In Now Or Wait For A Santa Rally?
- Dubai Stock Selloff May Bring Buying Opportunity
- Longer Lines, Fuller Carts This Black Friday
- Big US Banks May Be Forced to Raise Capital: Bove
- Bank of America Amends Pay for Senior Executives
- Tiger Woods Out of Hospital After Accident
- U.S. Stocks Fall on Dubai Worries
- Black Friday at Best Buy
- Strategists on Dubai: Avoid 'Rash Moves' Now
- Longer Lines, Fuller Carts This Black Friday
- Dubai Stock Market Fear Has 'Legs': Dennis Gartman
- Obama's Emission Reduction Pledge Paints Future for Autos
- Is Super Bowl Halftime Act Too Old?
- Surprising Options Trades in TiVo Shares
- EA Sports Hopes to Pump Up Sales Through Pop-Up Locations
powered by digg
S&P's Wyss Says US Already in Mild Recession
Topics:Interest Rates | Inflation | Ben Bernanke | Employment | Consumers | Federal Reserve | Federal Budget (U.S.) | Economy (Global) | Economy (U.S.)
Text Size 
The United States is in a recession but the downturn is expected to be mild because consumer spending is not expected to fall precipitously, Standard & Poor's said Thursday.
The recession will not put as much downward pressure on commodity prices as in a typical recession, S&P chief economist David Wyss told an oil and natural gas round-table meeting with the media.
"We are in a recession, but I think it will be a mild recession," Wyss said, adding "unless this turns into a consumer strike it should only be a mild downturn."
Wyss said the recession has been driven primarily by a downturn in the housing market, and that there were some signs the worst may be over for the flagging U.S. homes sector.
Copyright 2009 Reuters. Click for restrictions.
Print
Email
- These four sectors will be the next to lead the market.
- Zhu Zhu Pets are this year's must-have toy, fetching $40 or more on eBay.
- From the why-didn’t-I-think-of-that file, we present Jason Sadler, a man whose job is wearing T-shirts.
- It may be the most unusual guide to business you'll read.
- Shopping for a gadget hound? The choices can be baffling. Here are a few that should be a hit.
- "The Who" will be the halftime act for Super Bowl XLIV on Feb. 7 in Miami. Is the NFL behind the times?
MORE FROM CNBC
Data is a real-time snapshot *Data is delayed at least 15 minutes