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SUNDAY, NOVEMBER 8, 2009
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 OECD REPORT 
9

Recession Will End This Year

But growth will be sluggish through 2010, says Paris development group

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(Newser) – The US recession will end this year, but fragile financial markets and sapped consumer wealth will keep the pace of recovery sluggish, an influential Paris-based economic prognosticator said today. The OECD—Organization for Economic Cooperation and Development—predicted that the US economy will shrink by 2.8% this year and grow by just 0.9% in 2010. The OECD also said that the housing market slump "may be approaching an end" and that the supply of unsold homes is declining.

A board with job postings is shown at a training center in downtown Portland, Ore., Friday, June 19, 2009.
A board with job postings is shown at a training center in downtown Portland, Ore., Friday, June 19, 2009.   (AP Photo/Rick Bowmer)
Timothy Geithner speaks at the Treasury Department in Washington.
Timothy Geithner speaks at the Treasury Department in Washington.   (AP Photo/Alex Brandon, File)
Albert Cataline unloads his grocery cart at a Kroger store in Gahanna, Ohio.
Albert Cataline unloads his grocery cart at a Kroger store in Gahanna, Ohio.   (AP Photo/Paul Vernon)
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9 comments
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ListenEllipse
Jun 24, 09 7:03 AM CDT
It can't end this year, we won't have spent even half of the stimulus money. Does that mean we won't have to spend the rest? What about all of the democrats' pet projects? Reply
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IN RESPONSE:
Vorant1
Jun 24, 09 7:15 AM CDT
It won't end this year, it will escalate and turn into a full blown depression next year. By late next year or early 2011 hyperinflation will be in full swing after a 60% devaluation of the dollar. Remember politicians have done this and its they that will need to be punished, be they republican/progressives, democrat/progressives or independents.
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-2
IN RESPONSE:
Reader64481089
Jun 24, 09 7:26 AM CDT
Don't EVEN start on the "Democrats Pet Projects" when it comes to the Pork they all are just as guilty. Want a few pointers? Try actually READING: http://www.boston.com/news/globe/editorial_opinion/oped/articles/2005/08/04/the_republican_pork_barrel/
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+6
freethemall
Jun 24, 09 7:45 AM CDT
Wasteful, unnecessary spending (pork) is mostly that money spent in someone else's state or district. Money spent in my state is vital necessary investment for future growth. I'm live in Arizona. The millions of dollars spent to bring Colorado River water to the desert was not considered "pork" in this state, but it may have been so considered by people not living in this state. Reply
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+2
shonangreg
Jun 24, 09 8:47 AM CDT
HOPEFULLY the economy will stop shrinking this year, and begin slowly growing again next year. But we will have a decade or more of lowered growth as we have to pay for the current "loan" to ourselves. Reply
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