Economists Weigh Possibility of a Recession Amid Economic Growth

Wall Street Journal (07/28/08) P. A3; Reddy, Sudeep
Despite falling home prices, a stagnant job market, a major credit crisis and rising gasoline prices, the nation technically is not in a recession, given that the economy likely will post a more than 2-percent growth rate for the second quarter and the gross domestic product (GDP) did not decline during the first six months of the year. Experts say the economy continues to post gains due to increased productivity, though some economists predict a drop in GDP by the end of 2008. While members of the National Bureau of Economic Research are not expected to announce a recession without a quarter of negative economic growth, experts note that if a decrease in the GDP prompts them to backdate the recession's start date to January, it would be the lengthiest recession since 1981-82.