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WASHINGTON, Oct 12 (Reuters) - The worst U.S. recession since the Great Depression has ended, but weak household spending as the labor market struggles to create jobs will slow the pace of the economy's recovery, according to a survey released on Monday.
The survey of 44 professional forecasters released by the National Association for Business Economics, also known as the NABE, found that 80 percent of the respondents believed the economy was growing again after four straight quarters of declines.
"The great recession is over," NABE President-Elect Lynn Reaser said.
So when we slip back into a recession will the left officially recognize it as Obama's recession?
According to the article, a double-dip is not likely to happen:
Quote:
"We don't necessarily expect the U.S. economy to fall into a double-dip recession. This time round, consumers will be reluctant to join the party," said Paul Ashworth, senior U.S. economist at Capital Economics in Toronto.
Hmmm... I still hear of hundreds of people losing their jobs. Stores closing down. People not being able to pay bills.. Sounds like BS to me. Trust I want this damn recession to be over already, but it's not.
I bet if you asked many americans January 20th if they "believed" the recession would be over soon and drag out 10+ months, the answer is no...
Since its not "beliefs" which control if we are in a recession or not, its actual spending, the whole story is bs..
And of course, YOUR EXPERT OPINION of whether the recession is over is more credible than that given by the National Association for Business Economics?
Hmmm... I still hear of hundreds of people losing their jobs. Stores closing down. People not being able to pay bills.. Sounds like BS to me. Trust I want this damn recession to be over already, but it's not.
The article answers your question:
Quote:
The survey predicted that the unemployment rate will rise to 10 percent in the first quarter of 2010 and edge down to 9.5 percent by the end of that year. The labor market was not expected to regain most of the jobs destroyed in the recession until 2012 or beyond.
And of course, YOUR EXPERT OPINION of whether the recession is over is more credible than that given by the National Association for Business Economics?
My creditibility is backed up by the definition of "recession"
Not ONE quarter we have had an increase, let alone two.
Individuals beliefs, be it the National Asssociation for Business Economics, or mine, means NOTHING, when the BEA continues to prove that the GDP decreases continue.. Again, its not about ANYONES "beliefs" its about ACTUAL spending.
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