Saatchi & Saatchi chief executive Kevin Roberts is expected to return to health rapidly after leaving the stage unwell during an event yesterday.

Opinion suggests the recession is over with economic growth expected to average 1.3% to March 2010, according to the latest consensus forecast from New Zealand Institute of Economic Research (NZIER).

The survey has produced results not seen in more than a year, with economic growth prospects revised upwards, consistent with accumulating evidence of improving economic trends.

However, NZIER warns the strengthening Kiwi dollar will play a big part in the ultimate durability of the current recovery.

Reserve Bank governor Alan Bollard said in a speech to a Hawkes Bay business audience this morning that early signs of global recovery have now emerged, and that we have avoided a repeat of the Great Depression.

However, world growth will likely be subdued for the next year or two, and the current low international interest rates, expansion of liquidity & central bank balance sheets, and fiscal stimuli will be necessary for some time, he said.

Australasian sharemarkets are likely to recover much of last week's gains in the wake of the US government's $US700 billion rescue package proposed at the weekend.

Under the plan, the US Treasury will be able to buy distressed
mortgage-related assets from the private sector. It needs the approval of the Congress and, if fully committed, would lift the US national debt to $US11.3 trillion.

The announcement fuelled a strong rally in European and American
sharemarkets before the weekend, including the biggest-ever one-day rise in London's FTSE index.