Always on the Sunny Side
Monday, January 5, 2009Traveling across the country Saturday, we had the opportunity to read local newspaper stories reacting to the ISM’s December Manufacturing Report. Grim.
AP national story, and the New York Times writes, “Manufacturing Reports Show Depth of Global Downturn.” Grim.
Creighton University’s Ernie Goss uses the ISM methodology to rank the economies midwestern states, so here’s that story, “Survey: Recession will worsen in the months ahead,” and the sidebar,”Mid-America survey state-by-state glance.” Grim.
But then, instead of grimmer, a glimmer. From the New York Times, “Some Forecasters See a Fast Economic Recovery“:
In the midst of the deepest recession in the experience of most Americans, many professional forecasters are optimistically heading into the new year declaring that the worst may soon be over.
For this rosy picture to play out, they are counting on the Obama administration and Congress to come through with a substantial stimulus package, at least $675 billion over two years.
They say that will get the economy moving again in the face of persistently weak spending by consumers and businesses, not to mention banks that are reluctant to extend credit.
Even with the conditions, we’ll take the offering of optimism.