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[0:27] ..." products medical science products and services like pharmaceuticals and medical instruments in biotechnology. As well as knowledge based services. Like consulting engineering and computer science and and so on. And those sectors are doing much better than in the rest of the economy largely because. We sell"...
[1:12] ..." That's sort of the worrying aspects of the indicators I'm looking at consumer confidence. Has fallen sharply in the state as well as in the country over the past several months -- at recessionary levels. And"...
[1:47] ..." the State's economy and and so the leading index is suggesting that economic growth will be in about two and a half percent that's the slowdown. Over the next six months through September. And at a"...
[0:00]" That's because our economy is is different in the nation's in into important respects one is that construction of opposing is a much smaller part of our economy here and in most of the rest of the nation. And that's where the economy has been hurting them most -- we benefit by not being heard as much by the downturn in housing secondly our economy is technology date we rely on selling. -- information technology products medical science products and services like pharmaceuticals and medical instruments in biotechnology. As well as knowledge based services. Like consulting engineering and computer science and and so on. And those sectors are doing much better than in the rest of the economy largely because. We sell to businesses for in terms of business investment services and products and business investment is doing better than consumer spending. But also because we sell overseas in overseas markets in the world economy is still doing still doing well."
[1:05]" Well I think if you ask the average person in Massachusetts that they felt they were doing better they might say now why I feel -- by an imminent recession."
[1:12]" That's sort of the worrying aspects of the indicators I'm looking at consumer confidence. Has fallen sharply in the state as well as in the country over the past several months -- at recessionary levels. And you concede that. In spending consumer spending in the state according to sales taxes which is one of the components the indexes follow sales tax sorry consumer spending has remained flat in nominal terms sin and that means it's fallen in real terms and that doesn't bode well for the future of the State's economy and and so the leading index is suggesting that economic growth will be in about two and a half percent that's the slowdown. Over the next six months through September. And at a rate of growth. Because of productivity is consistent with stagnant or even declining employment -- we -- small losses. In -- jobs over the coming several months."
[2:11]" So would it be accurate to say despite the good numbers uncovered in your index were in for some hard times ahead."
[2:18]" Try to put numbers are relative we're doing better than have very poorly performing national economy still however which slowing down. And harder times are coming"
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