Local Retailers Face Hardship in 2008

The year is coming to a close and the Federal Reserve has indicated there is a good chance of a National Recession. The numbers on the economy continue to disappoint economists with the poorest performing sectors being in Banking and Real Estate. Retailers also saw a disappointing holiday season as they indicated their sales were off.

Locally here in Milford I have noticed a more obvious growth of retail vacancies in plazas like the one here on Cherry Street where half the plaza appears up for lease. Milford has a very large retail base many of it from national chains like the new Lowes, Sears, and large chain stores. Should shoppers continue to curb spending into the the future the dynamic of our retail markets could dramatically change as major retail corporations rethink ways to contain losses and keep their finances on track.

Cramer from "Mad Money" the popular CNBC Cable show said that he is not concerned about all the dismal economic news, he believes that none of it is Germain in the face of Strong employment numbers throughout the country. He has no intention of sounding the "alarm" on the economy but said should the employment numbers rise to high un-employment in addition to the slumping economy, than his entire optimistic opinion will dramatically change to one of serious concern.

The current sentiment is that the economy will continue to slump into 2008, the Fed will continue to take corrective measures, and the dollar may very well continue its decline as the U.S. struggles to maintain control over the health of and continuity of our debt mired nation.