Forecasts of recovery through 2011 are pessimistic

12/15/2009 | Bloomberg Businessweek

The U.S. recovery may feature prolonged high unemployment amid slow growth, according to economists. The so-called European-style rebound is unlike Japan, where stagnation is a hallmark of recovery. Economists are offering their first forecasts that extend through 2011. "We had been worried about turning into Japan," said David Wyss, chief economist at Standard & Poor's Corp., New York "But it may be more likely that we end up with sclerosis."

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