Economists say the recession is ending |

Economists say the recession is ending

Aldo Svaldi
The Denver Post

A rising chorus of economists are declaring an end to the longest U.S. recession since the 1930s, a necessary step for Colorado’s recovery.

“The ‘Great Recession’ is no more. It’s over, finished, kaput!” declared Jeff Thredgold, an economist with Vectra Bank Colorado.

Thredgold serves on three national forecasting groups, and all predict economic growth will return this quarter and continue into next year.

But local economists differ on whether Colorado’s downturn will also end this quarter, with some cautioning that job losses will continue far into 2010.

“Although the state went into the recession later than the nation, we are forecasting it to come out at roughly the same time,” said Tim Sheesley, chief economist with Xcel Energy.

Richard Wobbekind, associate dean at the University of Colorado Leeds School of Business, said Colorado is well-positioned to ride the draft of a U.S. recovery and maybe even vault ahead.

He points to a strong technology sector, heavy federal stimulus spending and a housing market that has less mending to do.

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