Economy could be in recession: report

Reuters reports:

The U.S. economy may be in recession, based on Midwest manufacturing data, a report said on Thursday.

According to Kingsbury International, a partner of NAPM Chicago which puts out The National Association of Purchasing Management-Chicago business barometer, "the U.S. economy could be in a recession at this time."

"In four of the last five recessions, the slowing of the Chicago business barometer signaled a recession either one or two years later", the report said.

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