Economists dial back recession rhetoric

An increasing number of economists have started tempering their talk about a recession in the U.S., citing improvements in the stock and credit markets, policy responses and better-than-anticipated economic reports. "A couple months ago it seemed like we were on the abyss," said Jay Bryson, a global economist with Wachovia. "Things have changed. ...The numbers we've seen recently haven't been as bad as we were led to believe just a few months ago." Numerous warning signs remain, however.

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