NEW YORK, April 30 (Reuters) - The longest U.S. recession in a half century will probably end before the summer is out, the Economic Cycle Research Institute said on Thursday.
The research group, whose leading indicators have a solid track record of predicting turns in the business cycle, said enough of its key gauges have turned upward to indicate with certainty that a recovery is coming.
"The economy is on the cusp of a growth rate cycle upturn -- a cyclical acceleration in economic growth," ECRI said in an emailed statement. "In other words, U.S. economic growth ... which is still plunging deeper into negative territory , will start becoming less negative in short order." (Reporting by Pedro Nicolaci da Costa; Editing by James Dalgleish)