New views on economy

Still bad stuff - almost three-quarters of economists surveyed by the WSJ say that the economy has not yet hit bottom (respondents by a 3-1 margin say we're in a recession). Just one in five expect home prices to hit a bottom this year, while 67 percent see bottom in 2009. Unemployment is also projected to rise. As a group, they see gross domestic product expanding, on average, by 0.2 percent in the first quarter and 0.1 percent in the second. That's barely growing. Actually, most of the economists expect contraction for the first half of this year (those still forecasting growth are pushing the average into positive territory). The second half of the year is expected to be somewhat better.