October 2011
LIA Monthly Economic Report - Economic Recovery Seems a Long Way Off
By: Dr. Pearl M. Kamer, LIA Chief Economist
Current economic indicators continue to portray an economy that is operating at stall speed. It has become difficult to find a sustained source of strength in the economy. Manufacturing activity is weakening and retail sales are flat. New home sales are down almost 80% from their July 2005 prerecession peak, even with recordlow mortgage rates. The odds of another recession have increased because the recovery has been too weak to withstand a significant shock to the economy.
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