US recession over, unemployment seen at 10 pct
By Lucia Mutikani
WASHINGTON, Oct 12 (Reuters) – The worst U.S. recession since the Great Depression has ended, but weak household spending as the labor market struggles to create jobs will slow the pace of the economy’s recovery, according to a survey released on Monday.
The survey of 44 professional forecasters released by the National Association for Business Economics, also known as the NABE, found that 80 percent of the respondents believed the economy was growing again after four straight quarters of declines.
“The great recession is over,” NABE President-Elect Lynn Reaser said.
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