Light at the end of the economic tunnel, but not until 2010

Everyone is looking for the light at the end of this dark economic tunnel. And UCLA's Anderson School of Management has put a date on the end of these dark days: they see economic recovery starting in 2010.

The school's forecast expects GDP to decline by 6.8 percent in the first quarter of 2009, 4.5 percent in the second quarter, and another 1.7 percent in the third quarter. But then the upswing will come in the first quarter of 2010.

The report predicts average quarterly growth in 2010 of 2.7 percent and then 4.1 percent quarterly in 2011. It does not foresee inflation in this time period, but does see the risk after 2011.