The Greater Philadelphia economy is projected to begin a gradual recovery from the worst recession in the post-World War II era commencing sometime in the fourth quarter of 2009, according to Select Greater Philadelphia’s and IHS Global Insight’s Leading Index for the Greater Philadelphia region.
The Leading Indicator first started to rise last May; it has now risen for five consecutive months through September 2009. The Leading Index has been indicating in recent months that the Region’s economy was probably approaching the trough of the recession as its month-over-month (m/m) declines have been decreasing.
For the first time since the start of the recession, the values of the Leading Index in August and September were above its 12-month moving average, providing further evidence that the trough is near, and that an economic recovery will follow.
