Recession to Last Another Six to Nine Months Before it’s Over, Roubini

In an interview with Reuters, New York University economics professor Nouriel Roubini said  that while the recession in the U.S. may well be over at the end of the year, another dip was still possible next year.

From Reuters: “I still expect that economic growth in the U.S. is going to be negative through Q4, and that we’ll see positive growth in Q1,” Roubini [said] in an interview on the sidelines of the Seoul Digital Forum.

“The U.S. recession is going to be U-shaped, lasting roughly 24 months,” he added. “Compared to the current consensus that says we are practically at the end of the recession … my view is: no, it’s going to last another six to nine months before it’s over.”

Roubini stood by a recent article in which he mentioned the possibility of a “perfect storm” in 2010. “There is even a risk of a double dip, a W-shaped recession at the end of next year,” he said.

emphasis added

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