Economists' predictions: Is the recession over? | PowerOptions Web Log
Although the recession began in December 2007, the first very public casualty came in September 2008, with the collapse of Lehman Brothers (LEH). Subsequently, between September 2008 and March 2009 the U.S. economy contracted by 5.5% and consumer prices plummeted by 12.4% in the final quarter of 2008. However, since the 1940s, recessions in the United States have typically existed for approximately a year. Furthermore, there are already symptoms of recovery. For example, consumer prices have increased by a 2.2% annual rate for the first quarter of 2009. Economists’ opinions over the end of the recession remain divided. Some believe that the U.S. is already on the road to recovery. Others state that the recession will end in the next few months. On a rather less positive note, there are economists who predict that the recession is here for the long haul. Sign up now for PowerOptions 14-day free trial...
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