- Casey and Sloane Simmons, co-owners of Stuff in Kansas City, Mo., run a series of successful in-store events throughout the year, including “Wings of Hope,” a holiday open house and benefit for breast cancer research.
Gradually clearing skies. That forecast for a better economy in 2011 should come as good news to retailers after two years of tough times.
“The recovery will start to ramp up in 2011, then really expand quite strongly in 2012 and 2013,” says Sophia Koropeckyj, managing director at Moody’s Analytics, a research firm based in West Chester, Pa.
The sunnier mood among most economists is reflected in the figures for Gross Domestic Product (GDP) or the yearly total of goods and services produced in the United States. In a healthy economy this measurement of general business activity increases at a robust pace.
GDP is expected to grow by 2.7% in the coming 12 months, according to Koropeckyj. To put these numbers in perspective, the annual GDP increase for an economy in average growth mode is 2.5%.
For more of “Business Forecast 2011″ pick up a copy of the Winter 2011 NICHE Magazine.