September 2009 Update

If you are like me, you are looking for signs of recovery from the economic bind that we are in.  Today I read that the Federal Reserve Chairman stated it was “very likely” that the recession had ended, with a caution that it would be many months before unemployment rates dropped significantly.  Another article mentioned the Federal Reserve’s note that the Southeast economy began to show signs of stabilization in August. 

In recent discussions with executives in automotive and heavy manufacturing companies, it is clear that business continues to be down, with no significant pickup in sight.  Others I have talked with in manufacturing, food and beverage, etc. are experiencing little to no revenue growth but are still profitable.  In addition, we continue to hear good news from some of our partners around the nation, that there are pockets of hiring - mostly in the industrial, technology, and other manufacturing sectors.  My sense is that slow “U-shaped” recovery will begin in early 2010.  If you have read a good article or have a comment regarding the economy, I would love to hear from you.

 

Paul Johnson