Tuesday, August 4, 2009

Good economic news - can YOU feel it?

So, if you've been watching the news lately, you may have seen this, but there appears to be some good news - the economy is looking up.

A variety of factors lead us (and many others) to make this point:
1) The GDP still declined last quarter but at a mere 1%, significantly lower than the 6.3% in the last quarter of 2008 and 6.1% in the first quarter on 2009. The rate of decline was also better than expected.
2) Housing sales increased by 11%, the highest increase since June 2000.
3) The banking sector appears to be on the mend as well, with many (such as Bank of America, Citigroup and Goldman Sachs) posting profits in the last quarter.
4) The stock market is at its highest point since January.

We obviously aren't there yet, but things are looking up. Trouble remains though, particularly in the labor sector. In the Lehigh Valley, unemployment is at 9%, higher than Pennsylvania's 8.3% but lower than the nationwide rate of 9.5%

So, here is the question - is the recession ending? And, more importantly, can you feel a difference at your business or work?

Tell us what you think!

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