Word: recessional
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How can he be so bullish? Historical data indicate that consumers step up spending in the year following a recession's trough, says Canally. However, he concedes this year's snapback won't be as big as those following the last two recessions, since consumers currently face headwinds from high...
The so-called underemployment rate, which includes the country's jobless as well as workers who have taken part-time jobs and those who have given up looking for work, is even higher, at about 18%, notes Davidowitz. "We're not adding jobs, we're losing jobs," he says. Davidowitz...
The Chinese economy historically outpaces India's by just about every measure. China's fast-acting government implements new policies with blinding speed, making India's fractured political system appear sluggish and chaotic. Beijing's shiny new airport and wide freeways are models of modern development, contrasting sharply with the...
India, meanwhile, isn't experiencing nearly the same degree of fallout from its recession-fighting methods. The government used the same tools as every other to support growth when the financial crisis hit - cutting interest rates, offering tax breaks and increasing fiscal spending - but the scale was smaller than in...
See pictures of the recession of 1958.