U.S. May Have Avoided a Recession

According to some economists, improving economic forecasts show the U.S. has avoided a recession, at least for the time being.

While the all-clear has yet to be sounded, many economists believe the U.S. has avoided a recession. Originally set at 2%, economic forecasters such as Goldman Sachs Group Inc. and Macroeconomic Advisers LLC adjusted their growth forecast for the third quarter to 2.5%.

Despite the slow recovery and optimistic predictions, there are still many factors which could effect further economic growth. The debt crisis in the U.S. and potential recession in Europe are two of the factors that could impact the economy further.

Experts say continued private job growth will help alleviate any recession concerns. Rebounds in construction and manufacturing are also indicators that things are progressing positively, though slowly.

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