Two indicators point to U.S. recession

02/22/2008 | Reuters

Factory production in the U.S. Mid-Atlantic region was worse than even the most pessimistic Wall Street forecast, suggesting rapid economic deterioration is in progress. The Philadelphia Federal Reserve's business activity index showed contraction for the fourth month to the lowest level since the 2001 recession. Also, the Conference Board's index of leading U.S. economic indicators fell for a fourth straight month in January.

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