Most Executives Foresee Recession Lasting Until 2011

In a survey of 1,445 finance executives online, Deloitte found that 58.4% expect the recession could last until 2011. Yet two-thirds are not in support of any additional bailouts beyond what has been done to prop up the finance and automotive industries.

But Deloitte Chief Economist Carl Steidtmann thinks they are being too pessimistic, given the extraordinary actions the government has taken. “Given the dollar amount of stimulus funds currently being pumped into the banking system,” Steidtmann said, “we are more likely to experience a faster recovery than the survey results suggest. [It] could come as soon as late 2009.”