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WASHINGTON (MarketWatch) -- The economic data this week is expected to take a dramatic turn for the worse, with weak durable-goods sales, consumer spending, and housing data, analysts said. "I really can't see anything to hope for out of this set of numbers that might be construed as being positive," said Nigel Gault, chief U.S. economist at HIS Global Insight. There is a clear sense among economists that things are getting worse and the recession will last longer. "The economy has suffered a heart attack. It needs careful attention," said Mohamed El-Erian, co-chief executive officer of Pimco. Economists at Goldman Sachs and other top firms are steadily revising down their growth forecasts and hiking their unemployment expectations. "Things are deteriorating all the time," Gault said.
