Hope For Alabama’s Economic Recovery

Posted on February 10, 2010

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According to the Birmingham Business Journal, state business leaders are optimistic about Alabama’s economic future. “Alabama business leaders’ confidence in the state of the economy is slowly moving in a positive direction,” says the Journal. Using the Alabama Business Confidence Index as a guide, the Journal notes improved expectations for the national and state economy.

The Alabama Business Confidence Index uses a number of factors to measure anticipated economic performance. A score below 50 shows a struggling economy, while a score above 50 indicates a growing one. The fourth quarter of 2009 had a score of 47.3, and the first quarter of 2010 earned a 48.8. While still ranking just below the midpoint, this is a marked rise according to the Journal. “This is an improvement in business leaders’ confidence, especially compared to dismal results of 32 points during extreme low points of the recession in early 2009.”

Hopefully, a higher score in the second quarter of 2010 will indicate a further end to the Great Recession.

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Posted in: Current Affairs