Some experts say there are many signs the end of the recession is near, and the owners of D.C.'s Georgetown Cupcake say they've seen an increase recently in business.
NABE: Recession Will End By Fall 2009
Updated: Wednesday, 27 May 2009, 11:26 PM EDT
Published : Wednesday, 27 May 2009, 11:26 PM EDT
By WILL THOMAS/myfoxdc
WASHINGTON, D.C. - A survey of prestigious economists from the Washington, D.C. based National Association for Business Economics (NABE) showed the recession will probably end by the end of 2009.
About 74 percent of the forecasters agreed with this promising outlook. The recession started in December 2007 and is the longest since World War II.
The NABE survey points to several pieces of economic news. Economists say government spending to free up credit markets is the driving force behind any recovery. The same forecasters also predict home sales may reach a bottom by mid-year.
Another encouraging sign comes from the National Association of Realtors, which is reporting previously owned home sales rose 2.9 percent in April as buyers pick up bargains.
The NABE report comes as Wednesday marks the 100th day since President Barack Obama's stimulus package was unveiled. The President's $787 billion stimulus package of increased government spending, tax cuts and historically low interest rates all factor into the expected economic revival.
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