Economic recovery expected to take a while

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One result of the recession is the mothballing of the country’s means of production, such as boat manufacturing plants, workers, retail outlets and bank lending, according to a recent report.

“So even if the recession miraculously ended tomorrow, economists estimate that at least three years would pass before full employment returned and output rose enough for the economy to operate at full throttle,” a recent New York Times article reports.

While stock market investors have embraced tentative signs of improvement in the mortgage market and elsewhere, even a sharp pickup in demand for products and services will take considerable time to play out.

Click here for the full article.

Comments

3 comments on “Economic recovery expected to take a while

  1. Michael Bryant

    I disagree that we would need to wait three years because of the reasons stated in the article above. First It litterally takes over night for the lending to back on line once the banks decide to re-enter the market. There is a great deal of inventory our there all ready both new and used and very clean product for the consumer to buy. Although it certainly may take a awhile for large numbers of boats to be reproduced in the future and I am not sure we will be returning to those days anytime soon, the economy with respect tpo the boat business will be just fine.

  2. John Shannahan

    The pipeline is presently still emptying.It is as slow or slower than it was in 1991,1981,1974.  Boat projects whether they be new boat production,big refits,brokerage purchases,repowers or quotes for bottom paint are all affected. A few of my friends in the industry have found themselves busier than others due to dumb luck or having the right boat model. The rest of us  lead lives as Thoreau described “of quiet desperation”

  3. Brett the Regalman

    I agree with Michael Bryant.  I have a list of customers ready to buy today if I can get them financed.  I have three pending deals right now waiting for the answer from the banks.  Boats are starting to sell again and they will sell as long as the banks get back to work lending money.  What’s the latest with the TALF?  Is some of that relief going to trickle down to me from GE?  I’m not sure I can handle 10% or higher interest rates on my floorplan. 

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