Dow Crosses 10,000 As Positive Economic Data Motivates Investors
The economy has taken a battering these last few years, however it appears that things are slowly, but surely on the up! Experts are saying "the worst is over" but that recovery will be slow. Standard & Poor's chief economist David Wyss told a crowd of 200 - "Panic is being replaced by fear, and that's healthier" which is encouraging. He expects the nation's jobless rate to peak at 10.6% or 10.7% in mid-2010 before receding, but said Michigan's unemployment rate, currently 15.1%, may be stuck between 15% and 16% until 2011. However, Greg Main, president of the Michigan Economic Development Corp. expects the recovery to be a little quicker and estimates that the jobless rate will start to shrink next year owing to the state adding jobs in business services and manufacturing in recent months - helped along of course, but stimulus funds. Even Lawrence Yun, NAR 's(National Association of Realtors) cheif economist was in town not so long ago and had encouraging things to say about the economy in the region! Here in Ann Arbor, University of Michigan research economists said that U.S. growth will remain modest through 2011. The nation's gross domestic product, the total output of goods and services, will decline 2.5% this year but grow 2.3% in 2010 and 2.6% in 2011. The payroll jobs count finally should increase by 2.1 million in 2011, the forecast said. Which is very exciting! Overall, slow and steady growth is a great recovery. This echoes what we reported back in October that the state was right on track. We will watch this story closely and report back with any updates we have. Click here to search Ann Arbor Real Estate using our complimentary Ann Arbor Real Estate MLS Search service. Alternatively please contact Kathy Toth and the team if you need more specific assistance in your Ann Arbor Real Estate needs. Search all listings in Michigan with pictures and tours...Free! Kathy Toth & Team: Ann Arbor Area Real Estate Experts www.KathyToth.com Keller Williams Realty