The Times West Virginian

Local News

March 18, 2010

‘Out of the panic period’

Economists see moderate recovery

By Jessica Borders Times West Virginian

MORGANTOWN — Economists provided their insights into the future of the local and national economy Wednesday at the annual Morgantown Economic Outlook Conference.

The West Virginia University Bureau of Business and Economic Research (BBER) in the College of Business and Economics presented the seminar, which took place at the Waterfront Place Hotel in Morgantown.

Following the recession, moderate recovery is probably the most likely path for the U.S. economy, said Nigel Gault, chief U.S. economist for IHS Global Insight.

For the past couple years, banks have been tightening credit. But Gault said the economy is now getting to the point where credit conditions are starting to level out. The system has stabilized, and the stress in the financial markets has reduced considerably.

“We’re out of the panic period,” he said.

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