Free Republic

NEW YORK (Reuters) - The U.S. economy may be in recession, based on Midwest manufacturing data, a report said on Thursday. According to Kingsbury International, a partner of NAPM Chicago which puts out The National Association of Purchasing Management-Chicago business barometer, "the U.S. economy could be in a recession at this time." "In four of the last five recessions, the slowing of the Chicago business barometer signaled a recession either one or two years later," the report said. Copyright 2006 Reuters