An economist delivered some much expected bad news yesterday when he told a crowd of business owners that the recession was over but the recovery would be a very slow process for Ocala. The news was not unexpected but still a bitter pill to swallow for many Ocala business leaders who we're hopeful the message would have been just a bit more positive on the outlook for their local businesses.
Local business leaders are concerned with a double dip recession but analysts seem to feel the worse is over and that things are only going to get better albeit at a much slower pace than we had all hoped for. Manufacturing and construction are two key areas where Ocala can gain traction with a number of still planned projects in the works to revitalize the local economy. The credit crunch and bleak job market has stifled development and caused a difficult situation in Marion County but prospects are good for that to change in the months and years to come.
The good news is, the worst recession since the Great Depression is over, an economist told business leaders in Ocala on Friday.The bad news is the path to recovery looks like it will be slow and gradual, according to Sean Snaith, director of the Institute of Economic Competitiveness at the University of Central Florida.Snaith spoke at the 52nd annual meeting and luncheon of the Ocala Marion County Economic Development Corp at Hilton Ocala.