Double-Dip Recession 20% To 25% Likely If Fiscal Cliff Hits, S&P Warns |
| September 22, 2012 | September 2012 Bond Updates |
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There’s a 20% to 25% chance that the U.S. economy will suffer a double-dip recession, according to a report by Standard & Poor’s. The credit rating agency which downgraded the U.S.’ sovereign credit rating last year noted unemployment could peak above 9%, real GDP would contract 0.9%, and housing markets would once again collapse under their adverse scenario. The catalyst: Congress failing to reach an agreement to avoid the fiscal cliff. |
| View more at: http://www.forbes.com/sites/afontevecchia/2012/09/21/double-dip-recession-20-to-25-likely-if-fiscal-cliff-hits-sp-warns/ |
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