Recession to End in Third Quarter
The current economic crisis hounding the US was said to hit bottom during the end of the third quarter this year. But economist remained pessimistic on the speed of the recovery said that it will be at a sluggish pace.
A new survey conducted by private economists Blue Chips Economic Indicators showed that the current economic crisis, the longest since the great depression, will soon end at the third quarter of 2009.
However, most of the respondents in the survey agreed that it will be a sluggish recovery with several isolated job cuts on the way.
Based on the survey released on Monday, about 90 percent of the respondents from private companies in the US said that the freefall of the economic lines will hit bottom in the end of the third quarter citing the upbeat results in the US Gross Domestic Product.
Based on records, key labor market indicators such as the US housing market are showing signs of beefing up and slowly turning at the corner. It was the longest economic crisis since the great depression. It started in December 2007.
The survey, likewise, said that the brisk pace of recovery and expansions among businesses will not be seen until 2010.
A U-shaped recovery results was the most common projection among two-thirds of the respondents, citing the trend in the sales of the GDP. It will have a stronger jump for recovery in the second half of next year.
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