Bank Economists See Recession Ending Soon

A prominent panel of bank economists said the U.S. recession seems to have nearly run its course and should give way soon to a recovery.

“We are looking at the behavior of unemployment insurance claims and the trends in late Christmas retail spending,” said Gregory Miller, chairman of the American Bankers Assn.’s Economic Advisory Committee.

The bankers’ advisory panel saw the economy, which entered a recession in March, remaining weak this quarter but registering a 0.3% increase in gross domestic product.