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Recovery to remain sluggish into 2011

Submitted by on April 12, 2010 – 6:05 amNo Comment

A new survey suggests economic recovery will be sporadic and somewhat uncertain into next year.
The Associated Press survey of leading economists suggests the pillars of Americans’ financial security, jobs and home values will stay shaky well into 2011.
Three-fourths of the economists say that as a result, the Federal Reserve will be forced to keep interest rates near zero until at least the final quarter of this year.
The survey finds the unemployment rate will stay stubbornly high the next two years, inching down to 8.4 percent by the end of 2011.  Home prices are expected to remain almost flat for the next two years.
The new AP survey will be conducted quarterly.  It compiles forecasts of leading private, corporate and academic economists on a range of indicators.