The National Association for Business Economics released survey results on the 12th, showing that eighty percent of American economists believe the recession has ended and economic expansion is beginning.
After conducting a survey of 44 economists, the National Association for Business Economics found that most economists believe the United States is emerging from a prolonged and severe recession, predicting that GDP growth for the second half of 2009 will be revised upward to 2.9%, and will reach 3% in 2010. This result is more optimistic than the association's earlier prediction in May this year, which estimated a 2.7% growth for U.S. GDP in 2010. Previously, economic data indicated that U.S. GDP had experienced a significant decline for four consecutive quarters, marking the first time this has occurred since records began in 1947.
