Which Way is the Economy going to Go?
Which way the economy is going to go is anyone’s guess. There are positive economic indicators out there being reported that would lead you to believe that we are slowly starting to creep into positive growth territory from the worst economic downturn since the Great Depression.
Housing construction is up to its highest level in 8 months.
Building permits rose 2.7% in August.
Builder confidence is slowly heading higher…
Mortgage rates are falling slightly
BUT
Retailers are reported as being “cautious” about holiday hiring and retail sales don’t seem to be rising at the rate you would expect for a recovery.
The consumer, which accounts for 70% of our countries GDP, is still hoarding their money and spending cautiously.
Some econonomists predict that we could see a “double-dip” recession from and into 2011.
Where we go from here, no one knows. I think it will be a slow crawl back up to the top…
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