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Associated Press - August 26, 2010

Media Outlet: 

Associated Press



It's starting to feel like another recession. Businesses are ordering fewer goods. Home sales are the slowest in decades. Jobs are scarce, and unemployment claims are rising. Perhaps most worrisome, manufacturing activity, which had been one of the economy's few bright spots, is faltering. The economy has grown for a full year now, and many experts believe the recession technically ended in July 2009. But the pace of expansion has slowed significantly in the past six months. "Who cares if it's a second recession or a double-dip?" said William Dunkelberg, an economics professor at Temple and chief economist of the National Federation of Independent Business. "Either way, things are not going well."