In the midst of the slew of negative news about the economy, economists are now seeing bright spots in the future. Despite reports of unemployment and the continuing foreclosures with the mortgage crisis, some expert are now predicting that the economy might soon recover. Some, even predicting a sunny summer.
Major indicators being pointed out are the stock market’s rebound from a 12-year loss, the upward curve of home sales in recent weeks, and the claim that job losses have already peaked in January. And because of the sharp decline experienced in this recession, economists predict that the recovery will be stronger compared to the previous recoveries.
Lakshman Achuthan, managing director of Economic Cycle Research Institute, predicts a recovery in four months. Mark Zandi, chief economist of Moody’s Economy.com, also believes likewise and that a sooner recovery can be expected.
Still, many Americans who have lost their jobs and continue to be unemployed are all asking whether there really is a recovery in sight – the reason why Zandi underscores the importance of the labor market as a factor in the recovery.
Source: CNN Money
