Mike Goodman comments on a possible recession in 2008
Betting on a recession: Some economists put odds at better than even
Many economists throughout the state are forecasting a recession in 2008. In fact, the probability outweighs the possibility. This forecast comes largely after the prediction of former Federal Reserve Chairman Alan Greenspan that more than a 50% chance of a recession exists.
Michael Goodman, director of economic and public policy research at the University of Massachusetts’ Donahue Institute, said, “last week’s report that the national economy only generated 18,000 jobs in December was a clear sign the economy is slowing.”
“The housing-market slowdown, the falling value of the dollar and global uncertainty about the war on terrorism make forecasts of a 50-percent chance of a recession sound reasonable,” he said.
January 08, 2008