March 26, 2009
A group of financial wizards looked into their crystal ball Tuesday and saw some good news.
[efoods]The recession will ease by the end of this year and companies will begin adding workers, signaling the end of the worst economic downturn since the Great Depression.
It was the 64th day of the Obama administration and Chicago-based Dow Jones Indexes assembled a group of financial experts to assess the impact of government actions, whether they will work to stem the recession and what opportunities that might present investors.
The recession has affected every region of the country and nearly every sector of the economy, said Gus Faucher, director of macroeconomics at Moody’s Economy.com, which conducts independent research and provides economic forecasts.
“It’s really unprecedented in the U.S. to have nearly the entire country in a recession simultaneously,” he said.
The good news is there’s an end in sight.
The economy will pull out of the recession at the end of this year, marking a duration of 24 months, about twice as long as the average post-World War II recession, Faucher said.