Is the USA economy in a recession?
Unofficially, many USA economists think something has gone wrong with the economy.
Will it get worse?
Is this a recession?
If so, ıt will affects world - global economy and especially Turkish economy.

I can see how it could be perceived as a recession since consumer spending has been lower due to gas prices increasing, heating prices going up and lower housing prices.

However, unemployment still remains low, as long as people are employed they will keep spending. Also if our federal reserves keep inflation in check we should be fine. I imagine a slower growth, but no recession.

The level of dependence on U.S. exports & imports would be effected, especially developing countries who rely on exports to the U.S. would be crumbled, unless they found new markets. But for countries who spread their exports around the world, they would not see a huge impact.

Then there is the colapse of Fannie May and Freddie Mack............. Yes I agree, they sound like a couple but in fact they are banks that have been hit by the credit crunch.

For the recession to be defined, the economy has to be in decline for 6 months, but here in the UK spending was up in May, but I would say that we are not far from a recession. House building is always first to be affected and there have been many layoffs.

As for America, I don´t know too much about their economy except their problems have affected the UK, and the effects knock on to other countries.