News

Issues and events that shape Long Island's economic and legislative landscape.

Friday, October 24, 2014

LIA Monthly Economic Report - Economic Recovery Seems a Long Way Off

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.

To read the full article, click here