Is the worst behind us? 29 April, 2009Posted by David Anderson in Uncategorized.
The economy was weaker than expected in the first quarter with a huge annual decline of over 6%. The good news is that we are beginning to see the seeds of recovery. Inventories are down, consumer spending is up, government spending was down but will likely return with the stimulus package. Leading indicators are starting to edge up. Many banks are profitable though 6 of the largest 19 may be troubled still. Let’s hope the worst is behind us.