For Subscribers

365-Day Forecast

Will the economy bounce back in 2002? We'll let the experts answer that one.

By Steve Cooper • Jan 1, 2002

Opinions expressed by Entrepreneur contributors are their own.

Ken Goldstein, economist, TheConference Board

"It's a recession. It certainly will last at least intothe first quarter of 2002. I wouldn't be surprised if it lastedinto, though not through, the second quarter of [2002]. What got usinto recession is not what happened on September 11, but whathappened in terms of profit squeeze. Starting in the fourth quarterof 2000, we had an extremely tight labor market. As a consequence,we had 4 percent-plus wage growth and [increased production costs].Yet prices were only rising by about 2 percent. That began to erodeprofitability long before September 11.

Continue reading this article — and all of our other premium content with Entrepreneur+

For just $5, you can get unlimited access to all Entrepreneur’s premium content. You’ll find:

  • Digestible insight on how to be a better entrepreneur and leader
  • Lessons for starting and growing a business from our expert network of CEOs and founders
  • Meaningful content to help you make sharper decisions
  • Business and life hacks to help you stay ahead of the curve

Related Topics

Editor's Pick

Have More Responsibilities at Work, But No Pay Bump? Use This Script to Get the Raise You Deserve.
Black and Asian Founders Face Opposition at All Levels — Here's Why That Has to Change
Business News

Frontier Airlines Just Announced Its All-You-Can-Fly Summer Pass for $399. What's the Catch?

As travel begins to pick up, the airline hopes unlimited travel will jumpstart its business.

Thought Leaders

5 Small Daily Habits Self-Made Millionaires Use to Grow Their Wealth

We've all seen what self-made millionaires look like on TV, but it's a lot more subtle than that. Brian Tracy researched what small daily habits these successful entrepreneurs adopted on their journey from rags to riches.

Starting a Business

Free Event | February 9: Solopreneur Office Hours with Terry Rice

Running a one person business is challenging, but we're here to help you. Tune in as our expert, Terry Rice, answers your most pressing questions.

Business News

Mark Cuban's Grocery Store Hack Will Help You Score Cheaper Produce

The billionaire talked about his early days in Dallas when he was strapped for cash.

Leadership

Here's Why You Should Steal Someone Else's Leadership Style

To become the best leader you can be, you must start by being a version of the leaders you most admire.