Monday, May 19, 2008

5/19/08

Economists see credit crisis nearing end.

First the good news: The worst of the painful housing slump and the credit crunch might come to an end this year. Now the bad: The economy will weaken further and unemployment will rise.Next year, the economy should grow by 2.3%, less than previously forecast and a pace that is still considered subpar.

That's the latest outlook from forecasters in a survey to be released Monday by the National Association for Business Economics, also known by its acronym NABE. It will take time for any rays of light to poke through the economic clouds, though.

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