PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: Neocon who wrote (587741)	7/5/2004 9:12:13 AM
From: John Carragher	Read Replies (1) of 769670

highly unlikely. Recession began in March; attacks sealed it, group says Ken Moritsugu Knight Ridder Newspapers November 30, 2001-- WASHINGTON - Sept. 11 terrorist attacks helped drive the U.S. economy into recession, ending the longest economic expansion in U.S. history, a group of leading economists said Monday. The assessment by the National Bureau of Economic Research, the recognized authority on U.S. recessions and expansions, made official what many economic forecasters have been predicting for at least a month. The NBER said the recession began last March, but it wasn't clear that the slowdown had evolved into a full-fledged recession until data came in for the month of October. The economic fallout from the Sept. 11 terrorist attacks may have made the difference. "Before the attacks, it is possible that the decline would have been too mild to qualify," the NBER's Business Cycle Dating Committee said. "The attacks clearly deepened the contraction and may have been an important factor in turning the episode into a recession."

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