San Francisco (PRWEB) November 28, 2014
While the pace of the economic recovery since the 2008 has been subject to much debate, the fact is that the U.S. has clearly been on a growth trajectory for the last 6 years. Unemployment has dropped from a 2009 high of 10% to 5.9%, negative GDP has reversed and is trending at a 3.5 percent growth rate in 2014. The U.S. stock market is at an all time high and interest rates at near all time lows. By most measurements, the U.S. economy is robust while Europe and other economies such as Japan are lagging. So why be worried?
The U.S. has a cyclical economy, impacted by world events and more importantly the global growth of consumer demand. On the negative side, the growth of consumer demand in China is slowing and wages are rising, Europe is worried about disinflation as consumers are out of the market and U.S. government support for stabilizing the economy appears to be ending. After 6 years of economic recovery, its time to think about the inevitable there will be a recession and its not too early to think about how to prepare your company to survive and prosper during tough times.
Smart CEOs and boards are now considering steps to take to prepare more a less robust economic economy. Here are 5 steps to take: