Still Stuck in the Slush: The new year will start in recession

The new year will start in recession, but growth should pick up later

The new year will start in recession, but growth should pick up later

For millions of Americans it will be a bleak Christmas and a grim New Year, and not until many months into 1982 will people begin to see the first glimmerings of the supply-side economic prosperity that Ronald Reagan promised would be the hallmark of his Administration. Such was the sobering conclusion of TIME'S Board of Economists last week as it met in New York to survey the year now ending and the economic outlook for the one soon to begin.

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