Will you make it?

The US economy probably went into recession in April in a downturn likely to last 14 months, according to a survey of forecasts released Monday by the Philadelphia Federal Reserve.The 51 economists on average predicted an annualized drop in US economic output of 2.9 percent in the fourth quarter and a 1.1 percent decline in the first quarter of 2009, the Philly Fed said.

More than half of the panelists say their outlook is based on the assumption that Congress will pass a new stimulus package, with a size estimated at 211 billion dollars.

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