Sonora, CA — Tuolumne County Economic Development Authority Director Larry Cope remains “cautiously optimistic” that the current recession may be “bottoming out.”
Commented Cope, “Certain areas of the economy are showing improvement. Manufacturing is up in some areas.
We’re taking a close look at the A.R.R.A. (American Recovery And Reinvestment Act) programs and Cash for Clunkers and making sure they’re not giving a false boost to the economy.
Overall what we have been looking at things look like they’re starting to bottom out and go in the right direction. We’re hesitant to start claiming victory or saying that things are better or are only going to start getting better from here.
Our local businesses are hanging on and that’s good. Rather then downsizing they are rightsizing in making an adjustment to these tough economic times.
There is some talk of a “double dip” recession where you do get better and thing improve but then you take another dip 12-18 months down the road.
Since we are a bit removed from the major population enters, we were a little bit late getting into the recession and we’ll be a little bit late in the recovery process. It’s all about numbers … the greater the numbers the faster the economy will react in both a positive or negative fashion.
I do believe that we are gaining and that we are in better shape than we were six months ago.”
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