Article: Economic outlook--gazing through a clouded crystal ball. (Building Blocks).

Economic forecasting during the early period after the terrorist attack is very difficult. There is little question that the attack on mainland American soil left open wounds and economists are forced to make assumptions without being able to look at comparable responses in the past. The two forecasts presented here assume a resilience of the American will. It will probably take several months to discern the long-term impacts of the attacks on government, business and consumer responses.

The despicable terrorist attacks almost certainly pushed the economy over the edge and into the start of a recession in the third quarter. We expect a three-quarter recession ...

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