No Double-Dip?

The emerging consensus seems to be that there will be no double-dip recession. Slow growth (very slow, apparently) will define the US economy for some time, so it's too early to break out the champagne. It will be a while before jobs are back, but things aren't going to be as bad as some folks thought not that long ago.

Some points in the consensus:

Colin Dyer, CEO, Jones Lange LaSalle
"We don't expect a double dip," CEO Colin Dyer told reporters in Asia on Friday. "Our sense is that the corporate clients that we deal with are liquid, they have amassed a lot of money, they are looking for ways to invest.”
http://www.realtor.org/RMODaily.nsf/pages/News2010091002?OpenDocument

Jean-Claude Trichet, President, European Central Bank
"I've already said on many occasions that I didn't foresee a double dip in Europe, and the latest results confirm it," Trichet told the French daily Le Figaro. http://www.automatedtrader.net/real-time-news/55575/ecb-trichet-strong-2q-confirms-no-double-dip-press

Guy Quaden ,Member of Governing Council, European Central Bank
"Euphoria is premature, but optimism about the economy is legitimate," De Tijd quoted the governor of the central bank saying. "We start from a positive, albeit weak, growth in the coming quarters. A double dip in Europe is unlikely. In any case, even less (likely) than in the United States," he continued. http://www.forexyard.com/en/news/UDPATE-1-ECBs-Quaden-sees-no-double-dip-in-Europe-2010-09-07T184152Z

Jeff Saut, Chief Investment Strategist, Raymond James & Associates
“You’re going to get slow economic growth, but no double dip,” Jeff Saut, who helps oversee about $235 billion as the chief investment strategist at Raymond James & Associates, speaking from St. Petersburg, told Bloomberg Television’s Susan Li. “There’s not a whole lot of downside” for stocks, he said. http://www.businessweek.com/news/2010-09-09/emerging-stocks-climb-for-first-time-in-3-days-on-economy-oil.html

Frank Nothaft, Chief Economist, Freddie Mac
Frank Nothaft, chief economist for mortgage investor Freddie Mac, sees what he calls "a very steady, quarter to quarter growth" pattern ahead, with no "double-dip" mini-recession hurting real estate, and only minor increases in interest rates.http://realtytimes.com/rtpages/20100322_realestateoutlook.htm