Breaking News: U.S. officially in recession

Date: Mon, 01 Dec 2008 11:31:16 -0600

WASHINGTON - The USA is officially in a recession that began a year
ago, the committee of economists that dates business cycles said
Monday. "The committee determined that a peak in economic activity
occurred in the U.S. economy in December 2007," the National Bureau of
Economic Research said in a statement. "The peak marks the end of the
expansion that began in November 2001 and the beginning of a
recession."