• Advertise
  • Contact Us
  • About Us
  • Supplier Directory
  • Login
  • Subscribe
  • Logout
  • My Profile

  • CORONAVIRUS
  • LOGISTICS
    • Air Cargo
    • All Logistics
    • Express/Small Shipments
    • Facility Location Planning
    • Freight Forwarding/Customs Brokerage
    • Global Gateways
    • Global Logistics
    • Last Mile Delivery
    • Logistics Outsourcing
    • LTL/Truckload Services
    • Ocean Transportation
    • Rail & Intermodal
    • Reverse Logistics
    • Service Parts Management
    • Transportation & Distribution
  • TECHNOLOGY
    • All Technology
    • Artificial Intelligence
    • Cloud & On-Demand Systems
    • Data Management (Big Data/IoT/Blockchain)
    • ERP & Enterprise Systems
    • Forecasting & Demand Planning
    • Global Trade Management
    • Inventory Planning/ Optimization
    • Product Lifecycle Management
    • Sales & Operations Planning
    • SC Finance & Revenue Management
    • SC Planning & Optimization
    • Sourcing/Procurement/SRM
    • Supply Chain Visibility
    • Transportation Management
  • GENERAL SCM
    • Business Strategy Alignment
    • Education & Professional Development
    • Global Supply Chain Management
    • Global Trade & Economics
    • HR & Labor Management
    • Quality & Metrics
    • Regulation & Compliance
    • SC Security & Risk Mgmt
    • Sustainability & Corporate Social Responsibility
  • WAREHOUSING
    • All Warehouse Services
    • Conveyors & Sortation
    • Lift Trucks & AGVs
    • Order Fulfillment
    • Packaging
    • RFID, Barcode, Mobility & Voice
    • Robotics
    • Warehouse Management Systems
  • INDUSTRIES
    • Aerospace & Defense
    • Apparel
    • Automotive
    • Chemicals & Energy
    • Consumer Packaged Goods
    • E-Commerce/Omni-Channel
    • Food & Beverage
    • Healthcare
    • High-Tech/Electronics
    • Industrial Manufacturing
    • Pharmaceutical/Biotech
    • Retail
  • REGIONS
    • Asia Pacific
    • Canada
    • China
    • Europe
    • Latin America
    • Middle East/Africa
    • North America
  • THINK TANK
  • PODCASTS
  • VIDEOS
  • WHITEPAPERS
Home » You Can Stop Wondering When the Recession Will Hit-It's Already Here, Euler Hermes Says

You Can Stop Wondering When the Recession Will Hit-It's Already Here, Euler Hermes Says

April 25, 2008
Global Logistics & Supply Chain Strategies

Economists, politicians and business executives have been vigorously debating about when the U.S. economy will slide into recession. But Dan North, chief economist of Euler Hermes ACI, says the argument is moot. "I believe that the economy will not go into a recession; I believe that the economy is almost certainly in a recession already," he said in a late February report. High oil prices, the delayed impact of monetary policy tightening and the burst housing-market bubble have all been conspiring to slow the economy for some time, North said. Fourth-quarter 2007 gross domestic product grew at the "anemic" rate of 0.6 percent, as housing prices continued to plummet, consumer holiday spending tanked, foreclosures surged, and unemployment in the housing and finance sectors rose. The jobs report for January 2008 showed "negative growth"-that's a decline in common English-which is a "virtually certain" sign of recession, according to North. Government action, in the form of a $168bn stimulus package and a big cut in the federal funds rate at the beginning of the new year, confirmed expectations of the slump. What's more, the January minutes of the Federal Reserve Board twice used the word "downturn," a euphemism for recession. But all is not gloom and doom, in North's opinion. He sees the possibility of some economic recovery as early as the fourth quarter of this year. That's when the impact of the Fed's interest rate cutting will fully kick in. Meanwhile, the housing market should finally be starting to emerge from its slump. The U.S. is currently on the downside of a regular business cycle, North said, "but the upside ... is coming too. We just have to wait a few quarters for it."

Visit www.eulerhermes.com/usa

RELATED CONTENT

RELATED VIDEOS

SC Finance & Revenue Management Global Supply Chain Management Automotive
KEYWORDS Automotive Global Supply Chain Management SC Finance & Revenue Management Supply Chain Analysis & Consulting
  • Related Articles

    Coming Year Poses Challenges for Consumers, Businesses and the Supply Chain, Euler Hermes Says

    Recession Is Here, But What Will It Mean for Shippers and Carriers in the Coming Year?

    3D Printing Has Accomplished So Much Already - Where Can It Go From Here?

  • Related Events

    How Every Shipper Can Benefit from Modern Drop-and-Hook: Four ways to get nationwide, flexible, and quality drop capacity with unparalleled visibility

Global Logistics & Supply Chain Strategies

TNT Logistics Sports New Name: CEVA Logistics

More from this author

Wake up to Coronavirus Updates and the latest Supply Chain News!

Subscribe to our Daily Newsletter

Timely, incisive articles delivered directly to your inbox.

Popular Stories

  • Coronavirus-watch-Armada

    Virus Update: Biden Unveils National Strategy; Pfizer Says It’s Willing to Sell Vaccine to States

    Coronavirus
  • Car Industry

    A Year of Poor Planning Led to Carmakers’ Massive Chip Shortage

    Technology
  • Can Employers Require Employees to Get the COVID-19 Vaccine? Part 1

    Watch: Can Employers Require Employees to Get the COVID-19 Vaccine? Part 1

    Coronavirus
  • U.S. Vaccine Rollout Hindered by Faulty Coordination, Messaging

    WHO Fumes at Western Drugmakers As China Fills Vaccine Void

    Coronavirus
  • COVID-19 Vaccine

    Vaccine Disparities Raise Alarm as COVID-19 Variants Multiply

    Coronavirus

Digital Edition

Scb home issue 27

2020 Supply Chain Innovator of the Year

VIEW THE LATEST ISSUE

Case Studies

  • LSP Saves Customer $1.5 Million a Year With MPO Global Inbound Management

  • Auto Supplier Wows Key Client Using riskmethods Supply Chain Savvy

  • Integrating Shipping and Compliance Saves Conglomerate Millions

  • How a Consumer Goods Giant Upped Its On-Time Delivery Performance

  • LSP Wows Global Client, Quickly Advances to Become End-to-End Provider

Visit Our Sponsors

6 River Systems ArcBest Armada
aThingz BluJay Burris Logistics
DSC Logistics DCSA (Digital Container Shipping Association) DHL Resilience360
Genpact GEP Honeywell Intelligrated
Infor Logility Magnitude Software
MPO Old Dominion Oliver Wight
OpenSky Ports America Purolator
QAD Precision Red Classic Riskmethods
TGW Systems Transportation Insights Watson Land Company
Westfalia Technologies Workjam Yang Ming
  • More From SCB
    • Featured Content
    • Video Library
    • Think Tank Blog
    • SupplyChainBrain Podcast
    • Whitepapers
    • Webinars
  • Digital Offerings
    • Digital Issue
    • Subscribe
    • Manage Your Subscription
    • Newsletters
  • Resources
    • Events Calendar
    • SCB's Great Supply Chain Partners
    • Supplier Directory
    • Case Study Showcase
    • Supply Chain Innovation Awards
    • 100 Great Partners Form
  • SCB Corporate
    • Advertise on SCB.COM
    • About Us
    • Privacy Policy
    • Contact Us
    • Data Sharing Opt-Out

All content copyright © 2016 - 2018 Keller International Publishing Corp All rights reserved. No reproduction, transmission or display is permitted without the written permissions of Keller International Publishing Corp

Design, CMS, Hosting & Web Development :: ePublishing