March 2009

Trends and Resources

HP Impact: HPImpact: Pace of economic decline forecast to slow in first half of 2009

The US recession deepened dramatically in the fourth quarter of 2008. However, according to one recent industry analysis, the rate of the economic contraction should slow in the first half of 2009, an..

Weirauch, Wendy, Hydrocarbon Processing Staff

The US recession deepened dramatically in the fourth quarter of 2008. However, according to one recent industry analysis, the rate of the economic contraction should slow in the first half of 2009, and economic expansion will likely resume in the second half of the year. The Conference Board, a nonprofit business and management organization, says that its forecast of a 5.9% annualized decline in real GDP in Q4 2008 reflects across-the-board weakness from the negative effect of the escalation in the credit crisis on consumer and business activity in the US and abroad. The worsening labor market, the sharp slide in household net worth, and tighter credit standards resulted in about a 2.5% de

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