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The Economic Outlook for 2013

I’m going to take a slight segue from IT this post to talk about the US economy in 2013…
I had the unique opportunity in January to attend financial forecasts from 3 industry leading analysts… The first with Fidelity Funds, the second with Wells Fargo and the third with ITR Economics.
As a business owner or key player, you know the economy can make a big impact on how your business will look for the year.
Each analyst had their own perspective on the upcoming year, but they all shared the same opinion that the US economy will continue to improve in 2013. According to one economist, 46% of the public incorrectly believes we are in a recession, when we are actually experiencing what is known as a jobless recovery.

One problem is that many Americans watch the stock market as an indicator of the state of the economy when this is actually not a good indicator of how things are going. In addition, the media has a tendency to over-sensationalize what is actually going on.

US economy in 2013

The Gross Domestic Product (GDP) has been growing for the past several years, lending is up, employment is increasing and manufacturing is rising in the U.S. The unemployment rate is down for male workers, which indicates that construction and manufacturing jobs are on the rise. All of these are indicators that the economy is heading in the right direction.

The other opinion that the economists all shared is that Portugal, Spain, Italy and Europe as a whole are going to be OK and will not make a huge impact on the US economy.

The Bottom Line…

2013 is going to be a good year, so make the best of it!

Tom established Swip Systems in 1995 and has been providing business automation, software development, web application, and mobile app solutions ever since. As a business owner himself, he’s aware of the challenges and what’s necessary to stay competitive, which is why he is on a mission to help business owners grow and maintain profitability through technology. Tom is also the founder of Midwest Manufacturing Leaders (MML) and a keynote speaker.

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