News release: “The economy is on a moderate but solid recovery path and sustainable private sector job growth has returned this year, according to [a concensus] the Economic Advisory Committee of the American Bankers Association…The committee unanimously noted that a double-dip recession in the U.S. is very unlikely. More than 500,000 private industry jobs were created in the first five months of this year, and the committee foresees a total of 2.2 million new jobs in 2010 and another 2.5 million new jobs in 2011…According to the bank economists, consumer spending was a major drag on the economy in 2008-2009, but will grow by roughly 3.00 percent, on average, this year and next. With the consumer coming back, along with strong business capital equipment spending, the group expects real GDP to grow at just over a 3.00 percent annual pace through 2011.”