Single Page | 
Multiple Pages
Home > BizTimes Daily > Archives > November 23, 2009
Economists say ‘The Great Recession is over’
Published November 23, 2009 - BizTimes Daily
1 of 9 | Next 
National Association for Business Economics (NABE) today proclaimed, "The Great Recession is over."
NABE panelists have marked up their predictions for economic growth in 2010.
“While the recovery has been jobless so far, that should soon change. Within the next few months, companies should be adding instead of cutting jobs,” said NABE president Lynn Reaser, chief economist at Point Loma Nazarene University.
Panelists predict a relatively sluggish consumer upturn but look for a sizable housing rebound, low inflation and further rise in stock prices. Importantly, panelists are mostly (though not entirely) optimistic that the Federal Reserve Bank’s policies will not lead to higher inflation.
"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," the report stated.
The November 2009 NABE Outlook presents the consensus of macroeconomic forecasts made by a panel of 48 professional forecasters.
Founded in 1959, NABE has 2,300 members and 31 chapters nationwide. The survey was conducted by Richard DeKaser, Woodley Park Research; Parul Jain, MacroFin Analytics and Baruch College; Charles Steindel, Federal Reserve Bank of New York; and William Strauss, Federal Reserve Bank of Chicago,
At the same time, NABE panelists are “extremely” concerned about high federal deficits over the next five years.
