U.S. recession to be longer than usual

February 9, 2008
U.S. recession to be longer than usual

NEW YORK, Feb 8 (Reuters) - The U.S. economy has entered a recession that will be more painful and drawn out than the usual downturn, the director of the Reuters/University of Michigan consumer sentiment survey said on Friday.

Inflation pressures will linger despite the retrenchment in consumer spending, complicating the task of policy-makers, the University's Richard Curtin said in a report, citing data from the Reuters/University of Michigan Surveys of Consumers.

"This is no ordinary recession," he said. "The aftereffects will last much longer than the typical downturn."