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December 18, 2009

Has Maryland's economy hit bottom?

Today's column reprises a piece I wrote a year ago, right after the authorities officially proclaimed a recession, about how Maryland's economy is doing and where it's going. I called back the folks I talked to in December 2008. It's slow, but at least they're seeing signs that we're at or near the bottom.

Even so, Maryland merchants expect their first holiday-sales increase this year since 2006. Some companies are thinking about hiring. Stimulus money and other federal spending have kept Maryland better off than most states.

"We think the worst is over," said Tom Saquella, president of the Maryland Retailers Association. "It's got a long way to go. Last year, our members saw the holiday season as half-empty. This year they see it as half-full."

Here's WBAL's Bill Vanko and me yacking about the column on the radio.

Posted by Jay Hancock at 12:14 PM | | Comments (1)
Categories: The Great Recession
        

Comments

Some economic indicators for New York City make conditions there look quite bleak.

See:

http://notionscapital.wordpress.com/2009/12/18/christmas-2009-santa-still-laid-off/

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About Jay Hancock
Jay Hancock has been a financial columnist for The Baltimore Sun since 2001. He has also been The Baltimore Sun's diplomatic correspondent in Washington and its chief economics writer. Before moving to Baltimore in 1994 he worked for The Virginian-Pilot of Norfolk and The Daily Press of Newport News.

His columns appear Tuesdays and Sundays.
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