A Rain Delay for the U.S. Recession

S&P thinks the downturn has been delayed, not cancelled

Payrolls have dropped for five consecutive months, housing starts are at recession levels, and business investment remains weak. So far, the consumer and the trade deficit improvement have kept gross domestic product (GDP) growth positive, but the consumer is likely to be forced to retreat in the face of higher oil prices. Even without a negative quarter, the data supports calling this a recession.

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