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Economists in the latest Wall Street Journal forecasting survey are increasingly certain the U.S. has slid into recession, a view reinforced by new data showing a sharp drop in retail sales last month.
"The evidence is now beyond a reasonable doubt," said Scott Anderson of Wells Fargo & Co.
Thirty-six of 51 respondents, or more than 70%, said in a survey conducted March 7-11 that the economy is in recession.
The Commerce Department said yesterday that retail sales fell 0.6% in February; sales