Emerging from The Great Recession
Consumer Confidence Builds Opportunity
Current National Economic Indicators
In 2007, consumer confidence had progressively declined in the turbulence and global economic decline that eventually became known as the Great Recession. In 2008, Consumer Sentiment reached record lows. Although technically the national economy began to emerge from Great Recession in 2009, reasonable, albeit tepid, Consumer Sentiment didn't start to rebound with any consistency until 2012. Today, we're still shy of what most economists would measure as a strong recovery, but we are emerging nonetheless and it's imperative that you continue to prepare your business to take advantage of the recovery. Local Service Network is one significantly important component that you can't afford not to add to your economic success plan. Your participation in a well run LSN will provide you an economic boost that has the opportunity to outpace your competitors. Are you prepared to take advantage of this opportunity?
Historical Perspective
So, was the Great Recession crisis in 2008 worse than the Great Depression? According to Ben Bernanke, the former head of the Federal Reserve, the 2008 financial crisis was the worst in global history, surpassing even the Great Depression.
Read the CNN Money article: 2008: Worse than the Great Depression
Current New England Economic Indicators
The New England economy has strong sustainability factors that continue to fuel our economic opportunity and success. The Federal Reserve Bank of Boston provides us with data that we can use as professionals in order to chart our future opportunities while benchmarking the coinciding trends of our successes with good data points. As a participant in a Local Service Network you'll have more exposure to the data and success of your local business community. You'll hear first hand from your peers about their opportunities, marketing and strategies can can not only improve their businesses, but also your personal business goals. Working together as a consultative and supporting team of advisors for one another, as well as your clients, allows you to have greater insight.
- New England Economic Indicators - Federal Reserve Bank of Boston TM
- New England Economic Indicators is a quarterly publication of the Federal Reserve Bank of Boston's New England Public Policy Center (NEPPC). It provides current and historical economic data for the six states in the first Federal Reserve District (Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont), large metropolitan areas in the region, New England as a whole, and the United States.
- New England Economic Indicators is a quarterly publication of the Federal Reserve Bank of Boston's New England Public Policy Center (NEPPC). It provides current and historical economic data for the six states in the first Federal Reserve District (Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont), large metropolitan areas in the region, New England as a whole, and the United States.
- New England Public Policy Center - Federal Reserve Bank of Boston TM
- The Center promotes better public policy in New England by conducting and disseminating objective, high-quality research and analysis of strategically identified regional economic and policy issues.
- The Center promotes better public policy in New England by conducting and disseminating objective, high-quality research and analysis of strategically identified regional economic and policy issues.
- Issues Concerning New England Housing - Federal Reserve Bank of Boston TM
- The housing market is an area of perpetual interest in New England and, as the Great Recession demonstrated, an important driver of the economy. The Center has released research on housing affordability in New England.