US economy pushed over the brink

Professional Adviser
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The terrorist attacks of 11 September have pushed a teetering US economy over the brink and into rec...

The terrorist attacks of 11 September have pushed a teetering US economy over the brink and into recession. While we had expected to see economic recovery in the fourth quarter this year, we now expect the third and fourth quarters to show negative GDP growth and the recovery to be delayed a further six months until the second quarter of 2002. Consumer confidence has been severely damaged by the attacks on US soil. Confidence was already showing signs of weakening before 11 September but that deterioration is now likely to accelerate. The combination of weak capital spending and a nervo...

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