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December 19, 2007

All Business: Recession predictors often get it wrong

  • A number of prominent economists believe that a recession could come. It'll be a year before we know if they called this one right.
    • By RACHEL BECK
    AP Business Writer

    NEW YORK — Alan Greenspan thinks there is a 50 percent chance the economy will head into a recession. Let's just hope this is just another fumbled forecast by the former Federal Reserve chairman.

    He certainly doesn't have his prognostication record on his side. Neither do many of his economist peers, who have often missed the mark in predicting when the economy's growth would begin to contract.


     
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