Six straight months of a shrinking economy historically has equaled recession. Yet, people are still spending money and jobs seem strong. Local business owners seem more worried about inflation than recession.
There are growing fears the nation's economy is on the edge of recession— if not already in one — with news Wednesday that for the second consecutive quarter the economy has contracted.There are growing fears the nation's economy is on the edge of recession— if not already in one — with news Wednesday that for the second consecutive quarter the economy has contracted.
With that though, news that the economy shrank for the second straight quarter typically signals a recession. "When we give them a bid, they might call us six weeks later. And then we have to re-estimate the bid because of steel prices going up and the wood prices going up. Unfortunately, today, I can’t honor a bid more than about two to three weeks.
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