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Politics : Formerly About Advanced Micro Devices

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To: michael97123 who wrote (451416)	1/27/2009 3:45:14 PM
From: tejek	Read Replies (1) of 1574683

U.S. was the first to slide into recession, will it be the first out? Here's a reason to be optimistic in 2009: After becoming the first major economy to slide into recession — the official arbiter of such things says it began in December 2007 — the United States will likely be the first out, several strategists say. By The Associated Press Here's a reason to be optimistic in 2009: After becoming the first major economy to slide into recession — the official arbiter of such things says it began in December 2007 — the United States will likely be the first out, several strategists say. "The problems began here earlier, and the authorities have provided a much greater degree of support in the form of interest-rate cuts and tax rebates," says Jonathan Armitage, head of large-cap U.S. equities for Schroders. That puts the United States further along the recession cycle than other developed countries. The first-in, first-out model may even work on a more micro level as well. Barclays Capital's Ethan Harris says the U.S. sectors that went into recession first — such as home construction and automobiles — will likely be the first to hit bottom and rebound. He says low U.S. interest rates, plus more government programs to boost spending, will help the overall economy get back to growth by the second half of 2009. The relative optimism about the U.S. economy carries over to stocks. Professional fund managers are more bullish about U.S. stocks than other regions, according to a recent survey by Merrill Lynch. About 48 percent of the roughly 200 fund managers surveyed in December said they were at least "moderately overweight" on U.S. stocks, compared with 22 percent saying the same for developing-economy stocks, 19 percent for European stocks and 17 percent for Japanese stocks. Copyright © 2009 The Seattle Times Company seattletimes.nwsource.com

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