Institutional asset managers displayed an aura of optimism towards the positive swing in financial markets and the U.S. economy, with many believing that a double-dip recession is unlikely, and unemployment rates will ease up, a new study claims.

Respondents to Northern Trust Global Advisors’ (NTGA) third quarter survey, which was issued in mid-September, explained that they were hopeful that the recession dips were a thing of the past. Approximately 65% believe the U.S. will avoid a double dip recession, and 67% project that the nation’s jobless claims will “decrease over the next six months,” the Oct. 14 announcement stated.

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