Is a New Recession Ahead?
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Comstock Images/Thinkstock(NEW YORK) — New cracks may be appearing in the economy’s fragile recovery.
The number to watch this week will be Friday’s first estimate of GDP growth for the second quarter. It may drop to under 1.5 percent, after a weak 1.9 percent growth for the first three months of this year.
In recent days, Wall Street economists have dropped their estimates of annual growth and some say the risk of a recession is rising.
“We’re worried about growth slowing down everywhere, and about it being self-reinforcing,” Peter Fisher, global head of fixed income for Black Rock, the world’s largest asset manager, told USA Today. “I’m less worried about whether growth is slowing, and more worried about how much farther we have to go.”
Copyright 2012 ABC News Radio