Credit Card and Debt Statistics Database
by Scott Bilker |
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Are We Headed for a Recession? |
Some business indicators that suggest that the economy is headed for a recession:
Industrial Production has declined for 10 consecutive motnhs and is now 4.2 percent below its high in September (source: the Federal Reserve)
Employment reached a peak in early 2001 and has dropped by 259,000 jobs according to a survey of businesses and 620,000 by a survey of households (source: the Labor Department)
Newspaper help-wanted ads have been falling since February 2000 and are down 36 percent (source: the Conference Board, a research group)
Airline traffic has dropped every month since February compared with the same month in 2000 and is 1.2 percent for the year. Air cargo has fallen 8.7 percent (source: the Air Transport Association)
Business investment in equipment, machinery and software has slipped 5.1 percent since the third quarter of 2000 (source: the Commerce Department)
Corporate profits dropped almost 12 percent between September and March (source: Commerce)
State' sales-tax collections, adjusted for inflation, grew a meager 0.3 percent in the first quarter of 2001, down from 5.4 percent a year earlier (source: The Nelson A. Rockefeller Institute of Government) |
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Categories: |
Finances,Recession |
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Reporting Pub: |
Newsweek |
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Reporting Date: |
8/27/2001 |
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Article
Title: |
The 'Non-Recession' Has America in Denial |
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Article
Author: |
Robert J. Samuelson |
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