Posted Monday, August 24, 2009
There are signs the deepest recession since the Great Depression is slowing though not ending. The Federal Reserve says the downturn is "leveling out." Locally, the GM plant in Lordstown is bringing back 70 percent of its laid-off workers. The Cleveland steel mill Arcelor Mittal is also re-hiring hundreds of previously laid-off employees. But as one economist puts it, "until consumers start spending and banks start lending, we will still have sluggish growth." And figures released last week show that consumer spending, after edging upward, once again went in reverse. So, where does the economy stand and are the positive signs in the region likely to strengthen anytime soon? Some answers Monday at 9:00 a.m.
Economy, Regional Economy/Business - Analysis and Trends
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