Is The Economic Recovery Taking Spring Break? [AUDIO]
With weaker-than-expected hiring, slower manufacturing and service industries, stuttering stocks, the jury’s still out on whether economic growth is taking a spring break.
Economist Hugh Johnson says it is still too early to consider it a trend, but, “It’s a little bit disappointing, it’s obviously a surprise, and it makes you take a harder look at what’s going on.”
Patrick O’Keefe, Economic analyst at Cohn-Reznick in Roseland says the economy is still growing. O’Keefe believes here in Jersey, we’re still coping with a downturn of some of our growth industries and the aftermath of Sandy. But the state’s economy is still improving.
He says even with setbacks, the economy, especially in New Jersey, is like a marathon runner who varies his speed from mile to mile, but still moves forward.
“An economy which is growing, but not growing as strongly as historically was the case,” says O’Keefe.
But there is still concern the economy may cool off later in the year as it has in previous years.