US recession set to end officially

[dailyforexnews]

The US recession is expected to be declared over on Thursday but economists insist that it is still too early to start celebrating.

When gross domestic product (GDP) estimates for the third quarter are released they are likely to report that the economy is growing again, ending one of the deepest slumps since the Great Depression.

Encouraging though that might be, it will come as little comfort to the millions of people left unemployed or who have lost their homes as a result of prolonged economic downturn - especially as economists suggest that more jobs and houses are to go before real improvement is realised.

The good news is that the majority of experts agree that the recession is now over and that the figures will confirm this. Most are predicting it to show that the US economy is growing at around 3%.

More encouraging is the belief that it should lead to a prolonged period of growth.

A recent survey of economic forecasters by research firm Blue Chip Economic Indicators found that the majority believe quarterly GDP figures would remain positive throughout 2010.

The bounce-back from the red is likely to be taken by supporters of President Barack Obama as evidence that his massive stimulus package has been a success.

Josh Bivens, of the Economic Policy Institute, said much of the growth expected to be seen in the figures can be credited to the effects of the president's American Recovery and Reinvestment Act.

But away from the headline growth figures, things are not so rosy. Joblessness in the US is hovering at around 9.8% and experts suggest it will get worse before Americans start to see job queues dwindle. Many forecasters are suggesting that it could hit double figures when new data comes out next week.

Since the start of the recession in December 2007, some 7.6 million people have been laid off. In all, 15.1 million people are now classified as unemployed in America.

[bobneedham]

and yet, the sad thing is, even if the GDP recovers, the unemployment rate is still rising. Is the recession really ending? Financially speaking, yes. But when it comes to welfare, I guess the US still has a long way to go.

[anna575]

Great information. I appreciated it. This is the good news of recession. The recession was caused by the financial sector and the UK has one of the biggest financial sectors in the world. I agree with your points of view. Thanks.

[AlbertPortsmith]

Well i think the scenario is not what exactly that had been presented ,there are some more hidden facts and that will be keep remaining constant a recent report disclose that the people in US wanted to delay pregnancy or limit the number of children they have because of money concerns. Half of those women also said the recession made them more focused on contraceptive use. Guttmacher researches reproductive health issues.

I think time is not over yet ,and US still had to receover lot from recession.

Thanks:

[hung88tanner]

Thanks for the information.. This site really help us a lot..

[LivinFX]

I'm now in Vegas again, as usual once a year for a corporate event.

From what I see, it's taken off big time since last year!

So yeah, according to the Las Vegas Indicator, things are improving ;-)