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UCLA economists: no ‘double dip’

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Rejecting the possibility of a "double dip" recession, economists with the University of California, Los Angeles, Anderson Forecast say they expect economic growth to remain on track even in the face of continued high unemployment."Simply put, the financial emergency of 2007-09 is over, and we believe the Fed will soon recognize this reality" by tightening monetary policy, UCLA Anderson Forecast Senior Economist David Shulman said.In their first quarterly report of the year, economists with the forecast predict the nation's economy will grow at an annual rate of 3.2 percent during the first three months of the year before leveling off to 2 percent for the remainder of 2010.Economic growth -- as measured by gross domestic product (GDP) -- is expected to average 2.3 percent in 2011 and 3.2 percent in 2012, propelled by strength in business equipment and software production, exports, and a revival in home construction from postwar lows.But job growth is expected to rem...