The recession is winding down in Indiana, but the state will lag a few months behind the nation when the economy starts to
pick up steam.
Thatâ??s how an Economy.com specialist who tracks Indiana sees it.
Sean Maher, who also focuses on the automotive industry, expects Indiana to gradually make a transition to growth in the first quarter of next year, one to two quarters later than the national recovery.
â??Itâ??s still looking pretty bad, unfortunately,â?? Maher says. â??But there are some very significant parts that are beginning to improve.â??
Hoosier jobs in leisure businesses, retailing and construction are coming back. Home-building permits are perking up in several Indiana cities, largely because the state wasnâ??t clobbered as badly by the housing downturn as some areas of the country.
Countering the bright spots is manufacturing. Indianaâ??s close ties to Detroit automakers hammered the state, and will be the main drag on a quicker recovery, Maher says. General Motors and Chrysler are emerging from their respective bankruptcies and ultimately will prompt suppliers to gear up and bring back workers. But not before suppliers shrink some more.
The recovery will be slow through next year and start picking up momentum in 2011, Maher says.
So the end is in sight â?? if Maher is correct. Howâ??s that for good news? Do you agree with him?
Thatâ??s how an Economy.com specialist who tracks Indiana sees it.
Sean Maher, who also focuses on the automotive industry, expects Indiana to gradually make a transition to growth in the first quarter of next year, one to two quarters later than the national recovery.
â??Itâ??s still looking pretty bad, unfortunately,â?? Maher says. â??But there are some very significant parts that are beginning to improve.â??
Hoosier jobs in leisure businesses, retailing and construction are coming back. Home-building permits are perking up in several Indiana cities, largely because the state wasnâ??t clobbered as badly by the housing downturn as some areas of the country.
Countering the bright spots is manufacturing. Indianaâ??s close ties to Detroit automakers hammered the state, and will be the main drag on a quicker recovery, Maher says. General Motors and Chrysler are emerging from their respective bankruptcies and ultimately will prompt suppliers to gear up and bring back workers. But not before suppliers shrink some more.
The recovery will be slow through next year and start picking up momentum in 2011, Maher says.
So the end is in sight â?? if Maher is correct. Howâ??s that for good news? Do you agree with him?
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It's not that I'm so down on Obama, it's just politics and government in general. No one gets it anymore. And we all suffer because all Washington knows how to do is spend, spend, spend. He just happens to be worse at it because he wants government to grow and to have more people dependent upon the government. It's a recipe for disaster, total disaster.
Also pay attention to Celadon and FedEx, as the leading logistics companies in the area. All have pulled in their horns, and when they start to hire again it will be a very good sign that more goods are moving to retail. I think it will come sooner than the first quarter of 2010...probably fourth quarter 2009. People may not feel rich enough to buy a house, car, or RV, but they'll spend more on stuff around the house.
What were seeing is just a complete stoppage of commercial buildings, other than a few select areas
We're hoping that we can be lean enough into 2010 to get through it, as I don't think everyone can wait till 2011 - that's a long time off and many quarters to go through.
On the other hand, thundermutt makes specific references to business results. This is something I for one am glad to read.