According to its new report, Wood Mackenzie predicts a "prolonged global recession in which economic growth will not occur until the first quarter of 2010." Based on the firm's findings, global growth is expected to be slow, weak and require two or three more quarters before a return to average levels of 3%. "This will be one of the longest, broadest recessions in modern times, considering it commenced in 2008. The recession’s duration and breadth have created an aura of uncertainty in the global economy, prompting many companies across the energy sector to respond with caution when considering investments." When economic growth recovers, energy demand and prices will likely increase, it reports.