Sorry to disappoint you…but no recession yet

July 31, 2008

I keep waiting.

The economy this year has proved surprisingly resilient in the face of tighter credit, soaring energy prices, a tumbling housing sector and consumer gloom. “It’s quite remarkable that we’re still managing to get some growth,” said Wachovia Corp. economist Mark Vitner. But he added, “The fourth quarter and the first quarter of next year are going to be very challenging.”

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