The recession that forced the U.S. economy to shrink at nearly a 6% annualized rate between Sept. 2008 and March 2009, a shocking slowdown that pushed the global economy into contraction for the first time since the GD, has ended, FBN reports, citing economists surveyed by the National Association for Business Economics [NABE].
According to the survey released Monday at the Association’s annual meeting in St. Louis, over 80% of respondents said they believe an expansion has begun.
[FBN] “The good news is that this deep and long recession appears to be over, and with improving credit markets, the U.S. economy can return to solid growth next year without worry about rising inflation,” said Lynn Reaser, chief economist at Point Loma Nazarene University and NABE President-elect.Even with the recession coming to an end, the nation still faces a long and likely painful road to recovery after surviving a near-death economic experience in the last several quarters. Almost all of the NABE panelists said it would take until at least fiscal 2012 to recoup all of the jobs lost in the contraction.
While the recovery has begun, said Reaser, it will be “more moderate than those typically experienced following steep declines.”
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The top of the financial food chain with the government’s help wants to prejudice your perception toward positive spending.
Instilling confidence is intended to move consumers to borrow and spend. Don’t listen to the noise.
http://pacificgatepost.com/2009/10/economy-outlook-is-your-outlook.html
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The recession is over? We can safely say that because 1.4% of one economic association says so? 1.8% of its members were polled in this. 80% of those responded that the recession is over. Where were the other 98.2% when this poll came out?
I’m so glad we’re basing this off of agreement in numbers.
@ J N,
… No kidding. Unemployment figures alone tell of a different reality than that being spread to stimulate spending and borrowing.