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U.S. recession began in December 2007, panel finds
The National Bureau of Economic Research says its group of academic economists who determine business cycles met and decided that the U.S. economy fell into a recession last year.
Many economists believe the current downturn will last until the middle of 2009 and will be the most severe slump since the 1981-82 recession.
More soon at: http://link.latimes.com/r/KCUBQP/I92JU/KULREW/PBDB/DM7GO/36/t
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