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Is the United States about to experience a recession?
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| Submitted: Thu Jul 11 2002
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Is the United States about to experience a recession? The condition of the US economy is vital to all countries because of its size and status as a powerhouse economy due to it producing over one quarter of the world's output. The American economy is inevitably heading towards a slowdown or even a recession (defined as negative growth in two consecutive quarters combined with a decrease in real GDP) but the question that must be answered concerns the severity of this phase which is to say whether there will be a soft landing or a hard landing. A slowdown is defined as a fall in the rate of GDP (meaning that actual GDP is beneath trend GDP), falling retail & internet sales, a fall in consumer confidence, a drop in share values for old and new economy stocks, a slowdown in house price inflation and fall in new...
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