The US economy is gradually getting out of the worst recession since Second World War, but the recession is not over yet.

A fresh survey by the National Association for Business Economics reveals that there is little hope of US economy's immediate recovery. Most companies are still cutting costs by hacking inventories, payrolls and capital investment.

Forty-five percent of those businesses surveyed said that their sales had touched the bottom line in the first half of 2009, while 41 percent believed their sales would hit the lowest point in the second half of 2009. Only 14 percent companies expect their sales will reach lowest point in 2010 or later.

In the second quarter only 6 percent of the 102 companies surveyed said they increased their workforce, while 36 percent said they resorted to job cuts. The industry demand net rising index stood at -5, better than -14 in the second quarter of 2009.

Financial sector showed the robust demand, recording index reading of +15.

On the other hand, the transportation, utilities, information and communications recorded the lowest index reading of -90.

However, maximum companies hope job cuts will come down in the second half of 2009.