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  More Arrows Seen Pointing to a Recession
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ContributorRP 
Last EditedRP  Aug 01, 2008 03:33pm
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MediaNewspaper - New York Times
News DateFriday, August 1, 2008 09:00:00 PM UTC0:0
DescriptionThe American economy expanded more slowly than expected from April to June, the government reported Thursday, while numbers for the last three months of 2007 were revised downward to show a contraction — the first official slide backward since the last recession in 2001.

Economists construed the tepid growth in the second quarter, combined with a surge in claims for unemployment benefits, as a clear indication that the economy remains mired in the weeds of a downturn. Many said the data increased the likelihood that a recession began late last year.

The next major piece of data comes Friday, when the government is to release its monthly snapshot of the job market. Analysts expect the report to show a loss of 75,000 jobs, signifying the seventh straight month of declines.
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