Consumer confidence fell again in July, according to The Conference Board. Inflation-adjusted per capita disposable income rose at very strong annual growth rates of about 6% in May and June. More
Second mortgage interest rates increased slightly again in December. Support for an upturn in the spring comes from an increase in the Conference Board's Index of Economic Indicators for November 2001. More
Most past recessions resulted from sharp increases in inflation and a tight monetary policy leading to sharply higher interest rates. This recession has been caused by a sharp downturn in business investment, especially in the manufacturing and technology sectors. More