Credit crisis spreads to new areas in US and Europe

The debate goes on whether the United States will fall into recession, but on the ground the bad news is that the credit crisis is spreading to new areas, threatening more losses and a reduction in credit to consumers and companies. 

THERE have been so many reports about the recession in the United States, so it was surprising to read last Saturday that only 45% of business economists in the US believe a recession will take place this year.