Recession Expected to Strike in 2008

Five economic stocks will send U.S. manufacturing into a mild recession in 2008, according to a new report from an undustrial trade group. But the situation should get better in 2009 if the housing market rebounds and helps stimulate the economy. Daniel Meckstroth, chief economist for the Arlington, VA-based Manufacturers Alliance, said that while the next 12 months should provide a formidable challenge, he thought new housing starts should improve significantly in 2009.