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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: ild who wrote (74592)	11/29/2006 12:53:52 AM
From: CalculatedRisk	Read Replies (1) of 110194

Business leaders gloomy about'07 nj.com New Jersey business leaders have turned decidedly pessimistic about the coming year, according to a survey released yesterday by the New Jersey Business & Industry Association. "This is the least optimistic outlook of the last 16 years," NJBIA President Philip Kirschner said during a Trenton news conference. He said 51 percent of the 1,700 respondents expect the state's economy to worsen in the first half of 2007, and 12 percent expect improvement. Weaker 2007 numbers are expected for sales, profits and employment, compared with expectations a year earlier. "This recession indicator now has reached its highest level since September 2002," Kirschner said. "But it's premature to say that we're heading for a recession. The numbers are still more positive than negative. The economy is growing, but the growth is very weak and sluggish. I don't think we're heading for a recession yet." Economist James Hughes, dean of the Bloustein School of Planning and Public Policy at Rutgers University, said, "The basic message (of the survey) is that we're not going to turn around businesses' perceptions very quickly. It is going to take some time to do that." ... Twenty-eight percent of respondents said their industries are already in a recession, and another 27 percent said their industries are moving in that direction.

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