Manufacturers Fear Recession
This will be a “poor year for the economy,” and the nation could slip back into recession by 1987, the National Assn. of Manufacturers said today.
The group, representing more than 10,000 manufacturing firms accounting for most of the nation’s production, sees a pickup in the economy at the end of the year.
Slower economic growth is already raising the deficit even as Congress tries to lower it, the report said, adding that the group is pessimistic about those efforts. “There is a substantial possibility of a recession emerging in 1987-1988, which would raise the deficit substantially above anticipated levels,” NAM said.