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US recession over as soon as August

Staff Reporter 1 minute read

If economic predictions are correct the United States’ recession should be over in a matter of months, according to a The Wall Street Journal survey of economists.

On average, the 52 economists who participated in the survey forecast an end to the recession in August. Full recovery however will take years, the economists said.

Unemployment is expected to be a major issue; according to the economists the average forecast for the jobless rate is 9.7 per cent for the end of 2009 and expectations for another two million unemployed in 2010.

On the upside, the survey respondents were more positive about the financial sector. A third of the economists said the recently completed bank stress tests were a well-done and very constructive process, while half said they were helpful even if they understated risks.

 

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US recession over as soon as August
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