WASHINGTON — The United States is already in a recession that will last "well into 2009," the Credit Union Economics Group is forecasting.
The one bright spot is that there won't be inflationary pressure, the group says.
"Our consensus paints a clear picture of the economy finishing the year on a very weak note, with that weakness continuing through 2009," said CUNA Mutual Group Chief Economist Dave Colby, a member of the group. "CUEG does not anticipate a strong deposit surge at credit unions during this economic cycle like we saw in 2001."
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
