Cleaning & Restoration Breaking News

Economics Association bullish on economy

April 1, 2002
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The economy has emerged from recession and there is little chance it will tumble into another downturn any time soon, the National Association for Business Economics said.

WASHINGTON--The economy has emerged from recession and there is little chance it will tumble into another downturn any time soon, the National Association for Business Economics (NABE, said.

The association of professionals said the threat that the recovery could fizzle is fading, but there are still plenty of things to worry about, ranging from Enron-induced caution among executives at big companies to a large overhang of consumer and corporate debt.

Of the 334 NABE analysts responding to a March survey, 76 percent put the possibility that the country could suffer a double-dip recession this year as less than 50-50.

"The economic recovery is under way and the foothold is pretty strong," said NABE President Harvey Rosenblum.

Rosenblum also said he believed that the recession probably ended in December, although the group that dates the U.S. business cycle, the National Bureau of Economic Research, is months away from making its own formal determination.

NABE is an association of professionals with a shared an interest in business economics, and who want to use the latest economic data and trends to enhance their ability to make sound business decisions. There are approximately 3,000 members representing more than 1,500 businesses and other organizations from around the world.

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