Amid gloom, signs of hope for economy in 2009
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Msnbc.com panel says recovery could begin by midyear — if all goes well
Unemployment is soaring, consumer spending is shrinking and both the stock and housing markets are on track for one of their worst years on record. As 2008 comes to a close, the economic outlook for the coming year is pretty grim.But a panel of economists surveyed by msnbc.com says that — maybe, if all goes well — we could be closer to the end of this recession than the beginning. Now 12 months into a downturn that appears to be deepening, there are early signs that the elements may be coming into place for a convincing recovery. That “best case” forecasts calls for the worst of the downturn easing by the middle of next year, with slow but steady growth in the second half of 2009.
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