I've always found that economists for the most part have been extremely unreliable in forecasting things like recessions. (Also stock analysts are useless too) Case in point, an article from 2007, pre-recession:
I remember that article. It had two glaring ommissions:
1. Economists were not aware that there would be a major terrorist attack six months later
2. Economists did predict the recession that occurred in March 2001 due to the Bush administration's desire to weaken the dollar. When polled, a few economists were polled if there would be a double dip recession and 95% said no- a fact that changed six months later.
http://www.nytimes.com/2007/03/04/business/yourmoney/04view....