Gross domestic product will remain in negative territory the next two quarters, before posting growth in the last half of 2009, although it wasn’t specified when in the last half growth would return, according to the Livingston Survey, released yesterday by the Federal Reserve Bank of Philadelphia.

The 26 survey participants lowered their projections from the survey released earlier this year, and now see GDP dropping 2.2% for the last half of this year, as opposed to 1.7% growth seen in the June survey, while GDP for the first half of 2009, which they had seen 2.1% growth, is now expected to contract 0.9%.

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