Yes, the economy is tanking. But we’re not in a recession, economists said today.
Economists predict more pain ahead but no recession
By Roger Vincent, Los Angeles Times Staff Writer
June 18, 2008
Under pressure from falling home values, high oil prices and rising unemployment, the economy in California and the nation will perform anemically in the coming months — but there still won’t be an actual recession, UCLA forecasters say.
“I am holding on to what is now a shaky view: no recession this year,” said economist Edward Leamer, director of the quarterly UCLA Anderson Forecast, which is being released today.
