Economic recovery expected to take a whilePosted on
One result of the recession is the mothballing of the country’s means of production, such as boat manufacturing plants, workers, retail outlets and bank lending, according to a recent report.
“So even if the recession miraculously ended tomorrow, economists estimate that at least three years would pass before full employment returned and output rose enough for the economy to operate at full throttle,” a recent New York Times article reports.
While stock market investors have embraced tentative signs of improvement in the mortgage market and elsewhere, even a sharp pickup in demand for products and services will take considerable time to play out.
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