When Will The Recession End? Wachovia Takes A Guess

When will the recession end? Everyone's got an opinion. Warren Buffett recently said the U.S. economy is recession will end later this year.">still in shambles, while other economists predict that the recession will end later this year.

With so much disagreement about when the economy will improve, the economics group at Wachovia has settled on a probability. Wachovia puts the probability of the recession lasting two more quarters at 37 percent. Wachovia says it's likely, in other words, that the recession will end in six months. Just in time for Christmas...

But, it's not all good news. For one, Wachovia doesn't expect any sort of return to America's manufacturing glory days:

"...the structural trend of declining employment in blue-collar manufacturing continues as it has since the early 1970s. These declines reflect the high cost of labor relative to capital that has prompted the increased use of technology and capital to substitute for skilled workers as well as the evolution of consumer demand from 'goods' to 'services.'"

READ: Wachovia's report:

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