Could we finally be at the end of this economic meltdown? There is evidence – albeit anecdotal – to suggest we are through the worst of the long, painful recession that started in December, 2007.
Consider these green shoots:
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Is there a Ford in your future? For some in the Northeast U.S....maybe.
While the nation’s attention has been focused on the troubles at Chrysler and GM, there are some dealerships – particularly in the Northeast U.S. – that are selling a lot of new cars; last month, one Ford Lincoln Mercury franchise in Southern Connecticut surpassed 100 cars sold;
- Ahold USA, the Dutch company that owns Giant Food in the greater Washington D.C./Baltimore area and its companion brand Stop & Shop in New England reports its best quarterly profit increases in 10 years (10%). Of course, that takes into consideration deep-discounting, consumers eating out less while eating at home more, and Giant Food’s/Stop & Shop’s new self-service shopping tools like the new hand-held scanners some adventurous shoppers are using to tally their purchases (which means fewer workers are on payroll);
- Similarly, home improvement chain Lowe’s (#2 in market share) showed respectable quarterly sales improvement, while the category leader The Home Depot languished;
Federal stimulus funds are flowing for transpo projects, which means more people working in construction (a good thing).
- Several long delayed transpo projects have been jump-started by the flow American Recovery & Reinvestment Act of 2009 (ARRA) stimulus funds. So there are more people working in construction (a good thing). However, it is troubling that the vast majority of the stimulus funds allocated – for new green jobs and other needs – have yet to be spent;
- And insomniacs prone to watching late-night-TV are still buying The Snuggie. (Okay, that might not be the best sign of economic recovery...just the opposite);
While hiring is a lagging-indicator, meaning that rising employment is usually the last part of an economic recovery cycle, there are signs that some unemployed people – especially talented sales people – may soon be starting new assignments.
And a majority of U.S. economists believe we may be through the worst and that the recovery will begin this summer (if it hasn’t done so, already).
Let’s hope they are right.
