Stocks plummeted Wednesday after reports that the U.S. factory sector experienced its biggest one-month drop off in May since 1984. Weak factory sector figures, combined with dreary manufacturing data from around the world, and continuing high unemployment doesn’t just present a political problem for the Obama White House. Some economists worry the economy could face a “double-dip” recession. “Financial crises are followed by slow recoveries,” says Kelly Evans, “Ahead of the Tape” columnist for The Wall Street Journal.
The World is an independent newsroom. We’re not funded by billionaires; instead, we rely on readers and listeners like you. As a listener, you’re a crucial part of our team and our global community. Your support is vital to running our nonprofit newsroom, and we can’t do this work without you. Will you support The World with a gift today? Donations made between now and Dec. 31 will be matched 1:1. Thanks for investing in our work!