Another Perspective

The BBC is reporting on statements from The American Bankers Association's Economic Advisory Committee AKA Bank Economists.

I'm not sure there is anything new here. Like the IMF they are saying that the middle of 2010 is the time of a return to an improved economy.

BBC: Economists see end to US downturn

...it expects economic activity to increase by 0.5% between July and September.

The bankers also said US unemployment would hit 10% early next year.

"Growth in the coming quarters is likely to gather momentum but will not prove sufficiently robust to undo much of the severe damage done to our labour markets and public finances..."

This means that growth would not return to "trend pace" until the middle of 2010.