The U.S. economic recession will officially end in the third quarter of 2009, according a poll of economists from top financial firms.
The economists forecasted the recession will slow its pace in the second quarter, ending in July 2009 and return to normal growth levels in 2010, according to the Blue Chip Economic Indicators poll which was released on Saturday
Some economists are forecasting what would be the longest economic recession since the Second world war, according to Reuters.
However most of the polled experts think unemployment will peak no earlier than 2010 meaning the economic pain may remain long after the recession is officially over.
Some of the predictions included in the poll show the consensus forecasted 2009 Gross domestic product may fall 1.6 percent (above 1.1 percent predicted before) and 2009 Consumer Price index will fall 0.4 percent. Predictions for the U.S. dollar outlook were split.
The Blue Chip Economic Indicators poll tracks answers from 52 economists from top financial firms about the performance of the American economy.