Zandi: The Economic Slog

11.30.2009

The road from recession to recovery is rarely smooth, straight or short. It comes with detours, forks and even dead ends. And sometimes surprises.

While each American recession is different, most major ones end with pessimism heavy in the air.

As the U.S. economy claws its way out of the deepest downturn in decades, jobs are still being lost, consumers are jittery and banks are reluctant to resume lending, even though stocks have rallied and corporate profits seem to be slowly returning.

"I think the most prudent and appropriate forecast is that the economy is going to be a slog, at least through much of next year," said Mark Zandi, head of Moody's Economy.com and a regular adviser to congressional Democrats. (AP) > View article