By  on February 21, 2008

A recession in the U.S. is “unlikely” as companies post higher profits and consumers continue to buy goods, says The Conference Board in a report Wednesday.

“While the correction in the financial sector is just beginning, the correction in the housing sector is nearly over,” said Gail D. Fosler, The Conference Board’s president and chief economist. She said the economic shocks from the contracting financial sector are not enough to tip the U.S. into a recession.

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