If there is a silver lining, it is that as the year progresses, economists expect the rate of decline in the economy to start to slow – with some modest growth possible by the last quarter of the year.
Before the skies brighten, however, unemployment will rise, business bankruptcies will accelerate, housing prices will continue to fall, and consumer confidence will remain low, according to most forecasts.
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I think it will take longer for the economy to recover--at least till the second half of 2010. The economy usually takes a lot longer to turn around, not to mention this is a global recession.
ReplyDelete-Vinh