Subscribe

The Longest Recession Since WWII

According to the National Bureau of Economic Research, the recession ended in June 2009 after 18 months — the longest downturn since World War II. That doesn’t mean we’re out of the woods. Reduced expectations for U.S. economic growth and fears that high unemployment could last longer than previously thought presage more pain to come.

BBC:

The OECD predicts the US economy will grow by 2.6% this year, having previously predicted expansion of 3.2%.

It also warned in its latest economic survey of the US that the downturn may trigger long-term damage to the economy, with higher long-term unemployment.

Meanwhile, the UK’s Centre for Economics and Business Research (CEBR) said that it expected the US economy to expand by 2.2% next year, after growing by 2.5% this year.

Read more

Now you can personalize your Truthdig experience. To bookmark your favorite articles, please create a user profile.

Personalize your Truthdig experience. Choose authors to follow, bookmark your favorite articles and more.
Your Truthdig, your way. Access your favorite authors, articles and more.
or
or

A password will be e-mailed to you.

Statements and opinions expressed in articles and comments are those of the authors, not Truthdig. Truthdig takes no responsibility for such statements or opinions.