The US economy showed signs of recovery in this year’s third quarter where 2.2 percent growth rate was met but failed to come across the 2.8 percent expectation. 

Despite the fact that the 2.2% recovery is seen as a blessing, there are still few factors being blamed for the slow rate of growth.  Factors such as people not spending much, companies’ inventory cutbacks, decline in company spending in terms of inventory and supplies, and a commercial sector’s weak construction activity. 

Even with the decelerated growth pace, it is still good to know that the economy is becoming more favorable after months of going downhill.  Ever since last year’s recession, there has been a nonstop economic decline until this year’s third quarter and many are hoping and predicting that the current quarter will have a higher rate of growth. 

Analysts say that there would most likely be a 4% growth in the economy at the end of 2009.  This will recall the more than 5% growth in the first quarter of 2006. 

Even though the economy is growing, the country’s economy still has more hurdles to overcome before it can be out of the woods.  At 10%, the rate of unemployment may continue to rise.  This may affect economic growth in the US to drastically slow down to just 2-3 percent.

The growth in this year’s last quarter is credited to different companies resupplying their inventories that was dramatically exhausted during and after the economic downturn.  As a result, factory production will go into overdrive and will be a contributing factor to economic growth.

An increase in business and consumer spending as well as rising export will also boost the economy in the long run. 

Much of the cause behind last year’s recession was the crisis in the housing sector, where mortgages kept piling up until financially distressed homeowners were no longer able to sustain them.  This resulted to homeowners not just losing their homes but a lot of people had to spend less on practically everything including buying a home. 

Car industries have also been knocked hard where major car manufacturers such as General Motors suffered enormous plummet in sales forcing them to downsize and ask for government bailout.  These further contributed to the decline in the country’s economy. 

Thanks to the $8,000 tax credit offered by the government to first-time home buyers, home-sales stayed buoyant and the cash for clunkers program helped lots of individuals obtain cash or new cars in exchange for their old cars and car dealers also benefited from it.  Even though the cash for clunkers program is no longer ongoing, the tax credit for homebuyers would still go on for the next year and is expected to play a role in the continued economic recovery.

There are still uncertainties whether the economy could continue its level of recovery for the next 2-3 years.  Economists say that the government needs to offer additional stimulus programs in order to encourage consumer spending, which is considered the means of support of the overall US economic activity.

DANGER: Happy Holidays… NOT with Facebook Spoof eMails

As a web developer that has developed, implemented, managed and supported over 100 active websites, I get to see every flavor of spam possible. If you saw the movie Forrest Gump, Bubba started a list of all the ways he knew to prepare shrimp… I won’t bore you with the nitty gritty details but my list is that long about spam and I am from the South. Go figure.

Lately the worst offenders have been the Facebook Spoof emails, as they look identical to the email notifications from Facebook. Right now there is a virus that infects your computer and your Facebook account. Watch out for the ‘Happy Holidays’ Facebook Spoof! Even though you love and adore Facebook, don’t open the emails! Be cautious when it comes to networking sites. Below is a list of the eMail practices I employ. Please add yours to the comments…

Keith Farrazzi with How do I Start Networking?

If you ever have the opportunity to see Keith Farrazzi, the popular author of Never Eat Alone in a live presentation, GO! He is passionate and animated just like he is in this short video. He brings up good points about getting involved where you will shine…your passion comes in at this point… He never mentioned any formal business networking events… which is a very important detail. Business networking events are fun, but you can connect anywhere! You can make connections outside of your referral group or chamber mixer. Think of the possibilities! Your next big business connection could be standing right next you at Starbucks!

Creating Memories

by Dale Furtwengler

Offering a referral or resource to a person you’ve met at networking events, well nothing creates a memory better than that. But what type of memory? Certainly your kindness and generosity, but is that enough to help you generate more referrals? Not if you aren’t clearly communicating who your ideal customer is. There are all sorts of mistake that I see when people are introducing themselves at networking events. Here are three: 1. They speak about what they do.

2. They don’t talk about what their customers get from working with them.

3. They use demographics to identify their ideal customers.

I’m not going to spend much time on numbers one and two. You know that it feels like when someone is going on and on all about themselves. YAWN! The third mistake, however, is less obvious.