Despite predictions of a double-dip recession, the Milken Institute expects the economy to return to modest and sustainable growth sooner than some might think. "The U.S. economy is remains flexible and resilient," Milken asserts in its paper, From Recession to Recovery.
Using rigorous econometric modeling, Milken expects the country to create nearly 2 million jobs this year, more than 3 million in 2011, and more than 2.5 million in 2012. Correspondingly, real GDP should expand by 3.5 percent this year, 3.7 percent in 2011, and 3.8 percent in 2012.
Economic growth in developing countries, better business confidence, and improved consumer spending are pushing recovery. Historic data from the Great Depression to World War II era supports Milken's research.
The Milken Institute: From Recession to Recovery
The Milken Institute expects economic recovery to pick up steam for the remainder of the year and into 2012.
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