US May Be Entering Recession Again

Jan Amrit Poser, chief economist at Sarasin US may be entering recession again.



“If we look at the data out of the US, the retail sales, the durable goods data, they all shrunk in the third quarter. So from that data, it seems the US economy may be entering a recession although it’s not yet clear as we still have two more months to run.,” the chief economist CNBC asked how much angst he has about the global economy.

"I still expect that economic growth in the U.S. is going to be negative through Q4, and that we'll see positive growth in Q1," Roubini, the famously glum economist told Reuters in an interview on the sidelines of the Seoul Digital Forum.

The former U.S. central bank chairman said that most economists expect “a small dip” in home prices. The National Association of Realtors reported that the pace of home sales fell in June for a second month. Homes are selling at an annual rate of 5.37 million, and the group’s chief economist Lawrence Yun said transactions will be “very low” in coming months.

The United States' climbing national debt could drag the country into a "double-dip recession," President Obama warned in an interview with Fox News.

He said he's still considering additional tax incentives for businesses to reverse the rising unemployment rate.