The American Bankers Association (ABA) reported that the economic recession in the US will most likely end by this year’s third quarter last Tuesday.

Bruce Kasman, chairman of the ABA’s economic committee, notes several “green shoots” implying potential economic growth, including a significant increase in consumer spending over the first half of this year.

“The economy will return to growth, but not to health,” said Kasman, also noting that though the recession will be over, economic symptoms such as federal deficits and unemployment will still continue to be a deterrent. The group points out that the economy will continue to lose jobs, the country’s credit condition will remain tight, and that budget deficits will significantly slow down the economy’s growth and repair.

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