Wednesday, April 22, 2009

Economy May Be Leveling Off

Reuters reports that according to the International Monetary Fund, the “economy is starting to show signs of shrinking more slowly but positive growth is not expected until sometime next year.”

"There has been some improvement in business confidence, some signs of bottoming out in housing market, but these are early days and we should not expect a return to growth any time soon," Charles Collyns, IMF's deputy director of research, told a press conference.

"We don't expect a return to positive growth in the U.S. until some time next year," he said in response to a question.

As I have said many times before, and as this story indicates, we’re not out of the woods yet.   That said, these are good signs.

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