Saturday, December 20, 2008

more Pgh economy perspective

My friend Stu H. was interviewed on Bloomberg Radio radio yesterday which you can listen to via this MP3 file. Worth listening to for the national perspective, but he also gets into some Pittsburgh specific discussions at around time points 3:30 and 14:30 that are worth hearing.

No specific projections from me for next year. But as Stu looks to see the national economy turning the corner maybe the middle of the next year, the fundamental question is whether locally we can push our momentum far enough into 2009 to ride out the worst of the national recession. The lack of real estate collapse, general stability in health care, the PNC acquisition of NatCity buoying local financial services, and some ongoing large construction projects have all worked to protect us from the tempest thus far and produced what is rare regional employment growth in the US. Most of those factors will not turn around in the next few months and we might really get some bump from the potential infrastructure build-out being talked about.

How far we get before the worst catches up to us is the question. When the national economy turns around will be the key. Stu said his forecast for the rate of GDP decline this coming quarter was on the order of minus 5-6% which is a frightful number and national job losses of -300K to -500K per month through the first quarter if I heard him correct. That is hard to really imagine, but when you look at Detroit by itself which has lost 70,000 jobs over the last year alone and the temporary (which as we all know could easily enough become permanent) auto plant shutdowns in the news have yet to really impact those numbers you have to believe Stu was being optimistic a bit.

But something I wrote years ago, in surely some different circumstances, yet still something I would say again today: Pittsburgh Can Carry On.

28 Comments:

Anonymous Kesha Tickets said...

Amazing .. I will bookmark your blog and take the feeds also... Big thanks for the useful info i found on Comentari de categoria nova.

Monday, January 31, 2011 2:07:00 AM  
Blogger Jenney said...

Your blog article is very interesting and fanatic, at the same time the blog theme is unique and perfect, great job. To your success, one of the more impressive blogs I’ve seen. Thanks so much for keeping the internet classy for a change.
Houston Home Security

Monday, November 21, 2011 12:32:00 AM  
Anonymous Smart Home said...

The post is pretty interesting. I really never thought I could have a good read by this time until I found out this site. I am grateful for the information given. Thank you for being so generous enough to have shared your knowledge with us.;

Thursday, November 24, 2011 2:07:00 AM  
Blogger Unknown said...

This site is good because they give us a new thing and new ideas and new topic how good all of they are we should appreciate them because of these good thing.Houston Alarm Monitoring

Wednesday, November 30, 2011 10:51:00 PM  
Blogger Unknown said...

Pretend an individual wants one to clean a residence with a couple of bedrooms, a single bathroom, any kitchen, the family area and dining area. You discover how long it will take you to completely clean your cooking area and toilet. Based about that details, you estimate it may need you a couple of hours to completely clean her cooking area and toilet; similarly, an individual estimate. maids in abu dhabi

Tuesday, September 12, 2017 8:30:00 AM  
Blogger Nadkaar - web design said...

Thanks for a wonderful blog. Your article has proved your hard work and experience you have got in this field. Brilliant
seo dubai

Monday, March 05, 2018 12:22:00 PM  
Blogger Unknown said...

Hey buddy I just desired to let you know that I really like this piece of writing, keep up the superb work!
"seo services dubai"

Sunday, March 11, 2018 1:33:00 PM  
Blogger Unknown said...

Hey buddy I just desired to let you know that I really like this piece of writing, keep up the superb work!
"seo dubai"

Sunday, March 11, 2018 1:43:00 PM  
Blogger PsdConverters said...

Great post. Really informative. Thanks for sharing it with us. :)
PSD to HTML

Monday, May 21, 2018 6:54:00 AM  
Blogger PsdConverters said...

This comment has been removed by the author.

Tuesday, May 22, 2018 4:39:00 AM  
Blogger alomaids said...

Thanks for sharing such an informative post. Keep sharing.
Cleaning Services Dubai

Tuesday, May 22, 2018 4:40:00 AM  
Blogger alotechnical said...

Thanks for sharing such an informative post. Keep sharing.
Painters in Dubai

Tuesday, May 22, 2018 5:18:00 AM  
Blogger Unknown said...

Thanks for sharing an interesting post. I really like reading it.
SEO Dubai

Tuesday, November 13, 2018 4:40:00 AM  
Blogger Alston clayden said...

Hi its a good post. I have got useful information from it. Keep up the good efforts.
Public Relation company in Dubai

Tuesday, November 20, 2018 3:56:00 AM  
Blogger Housemaid Provide Company in Abu Dhabi said...

SUCH A GREAT IDEAS
best cleaning service in abu dhabi

Saturday, January 26, 2019 2:18:00 AM  
Blogger Rhino Dubai said...

In discussion mode, basically, press the receiver for your language and start talking. list of cleaning companies in dubai Google Translate will decipher your discourse and read the interpretation for all to hear.

Tuesday, November 12, 2019 1:44:00 AM  
Blogger Unknown said...

شركة نقل عفش بجدة رخيص
شركة نقل عفش بمكة
افضل شركة نقل عفش بجدة
ارخص شركة نقل عفش بجدة
رقم شركة نقل عفش بجدة
اسعار شركة نقل عفش بجدة
ارخص شركة نقل عفش بمكة
رقم شركة نقل عفش بمكة
افضل شركة نقل عفش بمكة
https://jeddah-moving.com

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

Tuesday, March 24, 2020 12:03:00 PM  
Blogger best hair salon in abu dhabi said...

LOCAL is an independent life-style concept store that combines a specialty cafe, men's barbershop and an exclusive sneaker & street wear consignment store barber in abu dhabi

Monday, January 11, 2021 4:50:00 AM  
Blogger Custom web app development Louisiana | Novateus said...

Novateus is innovative top custom software development company that helps organizations design and develop UI UX,custom mobile web applications

Monday, January 11, 2021 1:19:00 PM  
Blogger Syed Daniyal said...

Seospot agency provides the best SEO Agency in Karachi and globally. We've got well known SEO Experts awarded best SEO Agency in Karachi, Pakistan in 2019.

Thursday, January 21, 2021 1:44:00 PM  
Blogger Matt Pablo said...

We are a visible and Web Development Company in Karachi , Pakistan leading to a considerable increase of sales, profitability, and cost efficiency for our clients.

Thursday, January 21, 2021 1:48:00 PM  
Blogger Blogger said...

Garage door repair Upper Marlboro MD is a licensed, insured and locally owned and operated garage door repair service provider to homeowners

Wednesday, March 10, 2021 2:17:00 AM  
Blogger Blogger said...

Taking care of your skin is your number one priority and what matters the most is what products you use. Understanding which products you use and what kind of product targets your specific needs and works wonders for you is the key priority and that is how you will be able to make the most out of your products. Bareface Skin script product

Monday, March 15, 2021 6:21:00 AM  
Blogger Mighty Warner said...

Thanks for sharing this informative blog. If you are interested in Digital Marketing Services in Dubai, you can visit our website.

Thursday, April 22, 2021 6:58:00 AM  
Blogger Barbara John said...

Best place to buy Parnis watch in USA is non other than Tetris Shop, choice of more than thousand users in USA

Thursday, May 06, 2021 5:39:00 PM  
Blogger Umair Khatri said...

ECO Services , an ISO 9001:2008 recognized pest management & on spot cleaning services provider, is the new and innovative generation of solution provider for pest control fumigation services, cleaning services & other pest control issues

Friday, June 04, 2021 3:12:00 PM  
Blogger Amin Akhtar said...

Grit 3d has a highly professional team of Engineers and 3D Designers that helps you digitally fabricate your product in 3D in CAD software’s like solid works and AutoCAD so that you can visualize it before they are actually built providing Prototype services in Pakistan

Thursday, June 17, 2021 3:36:00 PM  
Blogger SEO CANADA said...

Some truly nice and utilitarian info on this internet site , besides I think the layout holds wonderful features 에볼루션카지노

Wednesday, July 28, 2021 8:25:00 AM  

Post a Comment

<< Home