STATE: ECONOMISTS NOT ALARMED STATEWIDE Edition

Shock value aside, the consensus among economists and business executives in Connecticut Monday was that the stock market decline was a normal if unwelcome event in the business cycle. So, even if the stock markets were to take a major hit, Connecticut's prosperity should remain intact for Joe...

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Bibliographic Details
Published inThe Hartford courant
Main Authors DAN HAAR and BARBARA NAGY, Courant Staff Writers Courant Staff Writers William Hathaway and Theresa Sullivan Barger contributed to this story
Format Newspaper Article
LanguageEnglish
Published Hartford, Conn Tribune Publishing Company, LLC 28.10.1997
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Summary:Shock value aside, the consensus among economists and business executives in Connecticut Monday was that the stock market decline was a normal if unwelcome event in the business cycle. So, even if the stock markets were to take a major hit, Connecticut's prosperity should remain intact for Joe and Jane Average Worker and for most companies. A recession on the order of the early 1990s is not thought to be in the offing. In a state with more than its share of big companies and well- paid workers, Connecticut's work force tends to have a lot of stock in the form of 401 (k)'s and other investments that build with each paycheck.Much of that stock has made the transformation to actual spending money, where it has fueled the local economy.
ISSN:1047-4153