To all those who have been sitting on the sidelines waiting for “the bottom”… consider this your fair warning!
Associated Press out of Washington just reported that over 90% of economists predict the recession will end this year. This assessment, released yesterday, came from leading forecasters in a survey by the National Association for Business Economics. This forecast is in line with the outlook from the Federal Reserve Chairman, Ben Bernanke and his colleagues.
74% of those surveyed expect this recession to end in the 3rd quarter 2009, 19% predict we the turn around to be in the 4th quarter and the remaining 7% are looking at the 1st quarter of 2010.
“While the overall tone remains soft, there are emerging signs that the economy is stabilizing,” said NABE president Chris Varvares, head of Macroeconomics Advisers. …. AKA— “THE BOTTOM!!!!”
So, if you snooze, you lose!