economy report state of the
THE RECESSION IS OVER…RIGHT?
For months, prognosticators have
scanned the economic horizon, desperate for definitive signs the worst
was over. They’ve tracked economic
indicators from payrolls to industrial
production to consumer spending.
Project managers are also trying to
read the tea leaves, scrutinizing new
project starts, relaxed budgets and
other omens of market resurgence.
By the end of 2009, there were
plenty of signs that a turnaround was
at the ready. In mid-December,
Morgan Stanley predicted the global
GDP is expected to grow at an average
rate of 4 percent this year.
It’s not exactly a return to the go-go
years, however. The investment banking
giant warned of “a tale of two worlds,”
forecasting barely 2 percent average GDP
growth in the advanced economies, but
predicting a 6. 5 percent jump in emerg-