Grim Economic Forecast

Credit unions attending the Western Association of Technology CUs' annual meeting here were given something of a grim message about the U.S. economy's prospects. Dr. Peter Navarro, a professor at the University of California-Irvine's Graduate School of Management, said he doesn't believe the U.S. economy will show any signs of improvement before Christmas. The reason: a series of "exogenous shocks" to the economy from which it has yet to recover, he said.