US tipped for recovery this year

The US economy will be back in growth by the end of this year, it has been predicted, something that may encourage property investors.

Speaking in London, US treasury secretary Tim Geithner said the world economy has seen the worst of the recession and stated his own country has contributed to this by taking action that will aid its recovery.

He added: "We have a very good chance for seeing the US economy get back to the point where it's going to start growing again in the next two or three quarters."

Such a sentiment may encourage those keen on buying in the US, not least as other recent upbeat predictions have also included forecasts of improvements for the housing market.

One example was last month's comments from Bruce Kasman, the chairman of the American Bankers Association's Economic Advisory Committee.

As well as the prediction that the US economy will grow between July and September, he said there would be a return to growth in the property sector in 2010.

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