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Economists Say Close to Recession or Already There

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WASHINGTON (AP) - A growing percentage of economists thinks the nation is in, or near, a recession. And they believe it will last roughly a year -- longer than the last two, in 2001 and 1990-1991. A survey by the National Association for Business Economics finds 69 percent of economists believe a recession has already begun, or will this year. That's up from 56 percent in May. A spokesman for the group says the economists have become more negative because of the credit crunch and weak consumer spending. The group's members think growth this year will slow to 1.8 percent. That would be down from two percent last year. The group suspects growth will slip to 1.6 percent next year. The survey was taken before President Bush signed the 700 billion-dollar bailout plan Friday.

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