Jan. 21 (Bloomberg) -- The U.S. may be headed for a recession worse than any seen in the past 25 years, as households are weighed down by a housing slump, debt and high fuel and food prices, the Wall Street Journal reported, citing economists including Merrill Lynch & Co.'s David Rosenberg.

Rosenberg said the slowdown may be worse than in 1991, when gross domestic product dipped 1.3 percent, according to the newspaper.

University of Maryland economist Carmen Reinhart and Harvard University economist Kenneth Rogoff said the recession may end up at least as bad as the five worst to hit industrialized countries since World War II, the Journal reported.

Recovery can't start while financial institutions are still unsure about the extent of losses triggered by the subprime crisis, Reinhart said, according to the newspaper.

Still, overseas trade may boost the economy, the Journal said, citing a Northwestern University economist, Robert Gordon.

To contact the reporter on this story: David Altaner in London at daltaner@bloomberg.net

Last Updated: January 21, 2008 01:05 EST