National University System Institute for Policy Research • Poll: Is U.S. headed back to recession? National University System Institute for Policy Research • Poll: Is U.S. headed back to recession?
Recent revisions of GDP figures show the 2008 recession was deeper than first thought and subsequent recovery flatter. Output has still not yet regained the pre-recession peak, and the feeble recovery is petering out. Consumer spending is falling, confidence slumping, and manufacturers’ orders falling – all significant indications of a slowing economy. The low annualized rate of growth over the past six months is so weak that the pace is almost always followed by recession. So yes it appears we are headed into another recession, if we can even call it as really having come out of the previous recession.