The U.S. economy – recession!

In the USA, because of the dramatic downturn Conveyers still. In February, the capacity utilization fell to 70.9 percent. This is the lowest level yet since the time series of the 1967th Industrial production declined by 1.4 percent. The car production this time, however, provided a positive contribution. For example, automobile production in the month compared to 10.2 percent after a decline of 23.4 percent in January. Excluding the auto sector was the production of minus 1.2 percent.

For the near future, it does not look much better. The Empire State index, a good leading indicator for the manufacturing sector is, fell in March as strong as ever since its inception. The 2001 from the New York Fed Index was launched from minus 34.7 to minus 38.2 counter. Values below zero indicate a decline. The data on industrial production and the Empire State Index was published on Monday.

Stock market revealed by the economic data unimpressed: The Dax away from his days at peak 4063 points recorded in the early afternoon but still 1.4 percent higher at 4006 meters. This continued the development of the previous week, when the German benchmark index nearly eight per cent had won. In the wake of the stock markets, the euro climbed above $ 1.30 and quoted at $ 1.3025. The gold price lost: One ounce (31.1 grams) for delivery in April fell in New York trading at 12.4 $ 917.70 $. Also bonds were on the sales list.

Economists: No quick recovery in sight
In the wake of the credit crisis breaks companies worldwide demand away. They respond with production cuts and layoffs. The decline covers all sectors, but especially the automotive industry. In February, the sales of vehicles by 41 percent. The biggest loser was General Motors with a minus of 53 percent. “The manufacturing sector is in a deep recession. The automobile industry has, it is difficult to catch, other sectors of the economy is also not bright. This underlines that it is a broad downturn is,” said Lena Komileva, chief economist at brokers Tullett House Prebon.

The disappointing economic data dampen hopes for a quick recovery in the U.S. economy. “This is not exactly encouraging. While it is gratifying for the car industry, if they can stop the free fall. But otherwise, no other industry the downward trend stopped. Also, the Empire index shows no improvement,” said Roger Kubarych, chief U.S. economist at Unicredit. On the weekend was Federal Reserve Chairman Ben Bernanke reiterated that an end to the severe recession in the U.S. this year is possible. “Next year we will experience a recovery,” said the central bank chief in an interview with the U.S. television channel CBS.

The United States since December 2007 in the recession. In the third quarter, GDP shrank for the year projected at 0.5 percent in the fourth quarter, even in the minus 6.2 percent. The unemployment rate reached in February with 8.1 percent, the highest level in 25 years. Since the beginning of the recession were now 4.4 million jobs lost. “We are in panic mode at the moment,” said Ethan Harris, economist at Barclays Capital. “The company reduced its workforce to adapt to the staggering global economy.”

Most experts give a pessimistic outlook – and write the year 2009. The central bank’s Federal Reserve (Fed), for example, is in the middle of their expected ranges assume that the economy shrinks by 0.9 percent. For 2010 but she returned to a recovery. 2011 expected up to five percent. The unemployment rate in 2009, it provides up to 8.8 percent climb until 2011 and again fall. In the interview, continued Fed Chairman Bernanke is the recovery again to stabilize the financial markets.