David Seiders commented on the apparent recession in the U.S in NAHB's Eye on the Economy.

Economic fundamentals deteriorated badly during the third quarter and downward momentum has extended into the final quarter of the year.

Recent and projected economic performance, if realized, almost certainly will qualify as an “official” recession in the U.S. economy.  That judgment will be made by the Business Cycle Dating Committee at the National Bureau of Economic Research.

Indeed, the setback now figures to be substantial, compared with the mild recession scenario in our forecast not long ago. Furthermore, the global economy may very well throw off convincing recessionary signals before long as activity weakens in other major industrialized economies as well as in key emerging markets. [return to top]  

Read the full article Eye on the Economy. [Return to top]