Last week, state economist Jeff Carr said at a regional conference that the recession will be short and shallow.
His view is not universal, however.
First, Gov. Jim Douglas said this week he's not buying the fact that we are in a recession, which he defines as two consecutive quarters of negative growth. He recognizes, however, that Carr allows for other definitions.
Tom Kavet, an economist who does consulting work with the Legislature, isn't so sure about the short and shallow part. He said this week that the risks point to a longer downturn. "I think it's a little early to say short and shallow," Kavet said.
Some positive signs, he said, are improvements in the credit market, but housing remains vulnerable. And then there are those gas prices.
- Terri Hallenbeck