2008-01-08 US recession is already here, warns Merril

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<hide> <let name=data index=Date>2008-01-08</let> <let name=data index=Topics>\US economy\Merrill Lynch</let> <let name=data index=URL>http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/01/07/bcnuseco107.xml</let> <let name=data index=Title>US recession is already here, warns Merril</let> <let name=data index=Text>“The US has entered its first full-blown economic recession in 16 years, according to investment bank Merrill Lynch. .. Merrill, itself one of Wall Street's biggest casualties of the sub-prime crisis, is the first major bank to declare that a recession in the world's biggest economy is now underway.”</let> </hide><if not flag=$including><let name=docat val=1 /><call ShowLinkData /></if>