Economists: Especially Dismal At Calling Downturns

Economists are way off the mark in predicting recessions

By nearly all measures, the economy is cruising through cloudless skies. Inflation is low, interest rates are steady, stock prices are hitting new highs, the Index of Leading Economic Indicators has risen at a solid 5.5% annual rate during the past six months. And only 20% of economists polled by the Blue Chip Economic Indicators see any chance of recession at all before 1998.

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