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Are We in A Double-Dip Recession?

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  • Description

    FBN's Liz MacDonald weighs in on the state of the economy.

  • Duration 2:26
  • Date

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All right -- the US economy and had to double dip recession but no one knows about even -- -- up -- today of course some economists say that some key economic data.

Is being ignored the question is why.

What is it was McDonnell has.

-- we -- -- top Wall Street executive John Huntsman out saying we already all are in a recession a recession started in the middle of the year but.

Who -- the Ben Bernanke is weighing and on whether or not the US economy.

Is in a recession here's Ben Bernanke.

So we expect the economy to continue to grow that's our best forecasts as of now.

So we are not expecting a recession that being said with an economy which is growing only been sort of one and a half 2%.

That it's not fast enough to lower the unemployment rate that as -- -- my concern.

-- fast enough to also avoid this recovery.

A downward -- GDP revisions -- at a time when -- seeing business spending really take a plunge here we saw for example.

You guys have been reported durable goods orders yes have been deeply decline since the past here here's a number for mayor -- chart from -- senior editor.

Charlie Brady and isn't isn't the fiscal cliff that's draining my economy right now -- businesses sit on the sidelines there's sixty tax provisions five dozen of them expired last year more than three dozen expiring by the end of this year the issue is average GDP growth since world were to law has -- -- percent and that -- eleven recession so should we be seeing 4% GDP growth.

That's the issue but the other big problem that the markets are struggling with right now is the official umpires and referees who can that -- recession.

You said earlier have been -- everyday and they that's right National Bureau of Economic Research they've been slowed to call recessions 1970 -- downturn.

It -- about eight to nine months -- collar recession.

Just this past recession they called it in September 2010 about a year after that ended so -- -- issue here.

When will the Fed officials -- -- we're in a recession we don't know yet whether we all are but it sure feels like one that we are closer would double dip -- not just flat lining right now.

Given that this is confidence has taken a hit.

With some business roundtable come out and say look you know our confidence is that a three year low -- -- executives.

So isn't -- just a fiscal -- or is it more that's what we're trying to get to the bottom up.

Federal Reserve districts also reported slowing down economic activity and a number of regions including Kansas City in Philadelphia New York City.

Plenty to chew on now all right you make sure about it -- --

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