Economic outlook dims sharply
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A slump seems inevitable, many experts now say. But they differ on its duration.
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WASHINGTON -- The White House on Tuesday lowered its forecast for economic growth this year and into 2008, reflecting the drag from the housing slump.
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Reports on factory orders and the labor market portrayed an economy that is skirting recession as attention shifts to government figures on employment to be released Friday.
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Japan&#39;s central bank offered a bleaker assessment of the country&#39;s economy Friday for the first time in more than a year and a half, citing weaker industrial production and slowing export growth.
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The decline was the steepest since records began in 1963, the Commerce Department said. Some economists predict a recovery in the summer. Others are less optimistic.
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US Federal Reserve chairman Ben Bernanke says the outlook for the economy in 2008 has worsened.
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The US economic outlook has suddenly darkened in the wake of data showing a stalling of the job growth machine, raising risks that a housing slump will lead to a full-blown recession, analysts say.
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The U.S. economic outlook dimmed  somewhat on Tuesday after reports said business productivity  grew more slowly in the third quarter than first estimated,  labor costs rose and other indicators signaled softening  activity.
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The U.S. economy will grow at a  sluggish pace for the remainder of this year and into 2007 as  the worst of inflationary pressure is yet to come, a survey of  top forecasters showed on Thursday.
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The chances of a recession are low even though UK economic growth will slow sharply, a report says.
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Consumer prices unexpectedly dipped 0.1 percent last month and new home construction hit a 12-year low, data on Wednesday showed, underlining concerns about the country's economic outlook.
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Weak manufacturing data heighten worries about the U.S. economy.
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A surprisingly weak jobs report sent the markets reeling and plunged the major stock averages into a deficit for the week.
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U.S. chief executives' outlook on the economy dimmed in the second quarter, although they still expect growth, according to a quarterly survey by the Business Roundtable released on Tuesday.
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Expected 2007 eurozone economic growth is downgraded after the recent markets turmoil.
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The pace of economic growth softened more sharply than expected in the second quarter and corporate profits rose feebly.
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Reports on factory orders and the labor market  portrayed an economy that is skirting recession as attention shifts to government figures on employment to be released Friday.