New York

Bank Economists: No Clear Recession, Only Slow Growth 

The economy will continue to experience slow economic growth this year and into early 2009, according to a press statement Tuesday afternoon from the Economic Advisory Committee of the American Bankers Association. “Although the tax rebates are providing some near-term lift to spending, households will continue to face a multiplicity of negative forces, including energy and food prices, restrained credit conditions and declining home prices,” said Peter Hooper, chair of the committee and chief economist, Deutsche Bank Securities in New York.