A recent survey released by the Federal Bank of Philadelphia says that the chance of slipping back into a recession is becoming less of a possibility. (Link to the survey results.) According to the Fed survey, the outlook for the U.S. economy looks stronger now than it did just three months ago, according to the survey of 44 forecasters.

In MDM's recent Webcast, Growth Planning for 2010: Economic Update with Adam Fein, distribution industry expert Adam Fein of Pembroke Consulting also said that the chances of a double-dip recession are much lower now than they were six months ago. He said: “Given the way things are going right now I’d say there’s still a chance, but I would say maybe it’s only about a 20 percent chance we’ll have a double-dip recession – that this recovery isn’t self-sustaining. I think we’re on the right path.”

We Deliver Distribution News to Your Inbox Sign up below to receive MDM Update, your free weekly distribution news update by email.

Fein says that most distribution sectors are going to be feeling growth in 2010. (Read an exclusive summary for MDM Premium subscribers of that Webcast.) Or download the free Webcast now.

The Federal Bank of Philadelphia survey forecasters predicted real GDP will grow at an annual rate of 3.3 percent over each of the next two quarters. The survey also showed higher expectations for the labor market. While still high, unemployment was projected in the survey to be an annual average of 9.6 percent in 2010, before falling to 8.9 percent in 2011. Forecasters are more optimistic about jobs growth over the next four quarters, raising their employment growth figures from the previous survey.

Learn more from Fein's 2010 Wholesale Distribution Economic Reports, available for 18 different distribution sectors.