We may not have a double-dip recession, but the economy isn't out of the woods yet, believes Alan Levenson, chief economist at T. Rowe Price of Baltimore.

A double-dip recession occurs when the economy fails to keep growing during the early stages of recovery after a recession. In the last recession, Levenson said, business kept inventories too high and overspent on plant and equipment. But the economist does not see that happening this time.

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