JLC ???DECEMBER 1990
The New England economy will
stink for at least another year. So
say not only regional economists,
but the consumers on whose confidence
any recovery largely
The most disturbing aspect of
this pessimism is its pervasiveness.
As late as July 1990, economists
disagreed on when the regional
recession would end. Some said
1992, but many predicted relief as
early as spring or summer of 1991.
Now, however, virtually no New
England economist sees a
turnaround before the spring of
Two main factors prompted this
change: the rise in oil prices caused
by the Iraqi-Kuwait crisis; and
national economic indicators that
are weaker than previously anticipated.
Added to these factors (and
partly a result of them) is a recordlow