There has been much talk for many months about the “second” recession facing the US economy. I’ve written about it as well, noting the prediction from ECRI last year that we were headed for a double dip. The prediction was defended again in September by ECRI.
And many have predicted, including the Congressional Budget Office, that the fiscal cliff will cause another recession.
U.S. companies are scaling back investment plans at the fastest pace since the recession, signaling more trouble for the economic recovery.
Half of the nation’s 40 biggest publicly traded corporate spenders have announced plans to curtail capital expenditures this year or next, according to a review by The Wall Street Journal of securities filings and conference calls.
It’s what they’re not spending on that is unnerving: the very