WSJ August Forecast: Most Economists Surveyed Say the Recession Has Ended

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The Wall Street Journal's August forecasting survey shows most of the participating economists feel the economy stabilizing:

After months of uncertainty, economists are finally seeing a break in the clouds. Forecasts were revised upward for every period, with 27 economists saying the recession had ended and 11 seeing a trough this month or next. Gross domestic product in the third quarter is now expected to show 2.4% growth at a seasonally adjusted annual rate amid signs of life in the manufacturing sector, partly spurred by inventory adjustments and strong demand for the "cash for clunkers" car-rebate program.

Here's what the Journal's GDP forecasting trend looks like:

This month the Journal asked economists to weigh in on Ben Bernanke.  The Fed Chair has 6 months left in his current term, and the economists surveyed give him a 71% chance of being reappointed.  Wall Street Journal news editor Phil Izzo discusses econiomists' views on Bernanke and the survey with Kelly Evans:

Click here for full coverage of the survey, and here for the Journal's always useful interactive survey charts and graphs.


Posted 08-12-2009 10:02 AM by Graham Griffith
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