Monday, July 27, 2009

For Illinois, recession looking milder, recovery weaker

Crain's:
Illinois’ economic downturn is easing as home sales stabilize and factory orders start to recover, but lingering unemployment points to a weaker-than-expected recovery next year, according to a new forecast.

Moody’s Economy.com now foresees a 1.4% decline in gross state product for 2009, better than the 2.1% decline the Pennsylvania-based firm predicted earlier in the year. It’s also better than the 2.7% drop Economy.com forecasts for the national economy.

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