US Enters into a recession
January 16th, 2008 by admin !According to this article on BBC, the US is already in a recession.
“The feared recession in the US economy has already arrived, according to a report from Merrill Lynch.”
It will be interesting to see how Indian IT companies will cope with this recession in US. Will it continue to be business as usual or will we be back to the black days of 2001 (the retrenchment, regret letters). I have my fingures crossed.
In another report Goldman Sachs predicts that US unemployment will rise from the current 5% to 6.5%. This may bring back the anti-outsourcing lobby. The US presedential election may make things even worse.
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