Weekly Economic Update

 

(Tuesday, August 4, 2009) CBIA vice president and economist Pete Gioia talks to Nancy Andrews about recent surveys (CBI/TD Banknorth, CBIA economic Quarterly and national surveys) and what they mean for Connecticut.

(Friday, June 19, 2009) CBIA vice president and economist Pete Gioia talks to Nancy Andrews about the latest unemployment figures showing Connecticut gained 3,600 jobs in May.

(Tuesday, June 2, 2009) CBIA vice president and economist Pete Gioia talks to Nancy Andrews about a gloomy economic report in the Connecticut Digest and a more upbeat report from the Institute of Supply Management.

(Friday, May 22, 2009) Unemployment hits 7.9% in CT. CBIA economist Pete Gioia comments on the 11,800 job losses.

(Friday, May 15, 2009) - Pete Gioia talks about the Economy.com forecast about the recession, jobs, consumer spending and exports.

(Friday, May 8, 2009) U.S. unemployment continues to rise, but CBIA vice president and economist Pete Gioia says the figures are better than expected. In this week's Economic Update, Vice President and Economist Pete Gioia tells Nancy Andrews there's good and bad news with these numbers.

 

(Thursday, April 30, 2009) The Federal Reserve Open Market Committee met on Wednesday and voted to take actions to help improve the economy. In this week's Economic Update, Vice President and Economist Pete Gioia talks to Nancy Andrews about the bold steps taken by the Fed and the latest GDP figures.

(Monday, April 20, 2009) Record number of businesses closed in the first quarter of 2008 and unemployment in Connecticut hit 7.5%. In this week's Economic Update, Vice President and Economist Pete Gioia talks to Nancy Andrews about the new figures and what they mean for the state's economy.

(Monday, April 13) The CBIA Economic Survey, released today, shows subtle signs of confidence beginning to return to Connecticut businesses. Pete Gioia, CBIA vice president and economist talks to Nancy Andrews about the findings in the 1Q09 survey and gives us a preview of what we can expect later this week when the state unemployment figures are released.

(Monday, April 6) The CBIA/TD Banknorth Credit Survey shows some improvement in the state's credit market. Pete Gioia, CBIA vice president and economist talks to Nancy Andrews about the findings in the 1Q09 survey.

(Monday, March 30) Unemployment hits 7.4% with 14,300 jobs lost in Connecticut in Feb. Pete Gioia, CBIA vice president and economist talks to Nancy Andrews about the state's unemployment figures and about the state's budget deficit.

(Wednesday, March 23) CBIA Vice President and Economist Pete Gioia talks about some positive economic news on the housing front.

 

(Wednesday, March 18) Good economic news this week. CBIA Vice President and Economist Pete Gioia comments on the rise in housing starts and consumer spending. He also discusses why Fed. Chair Ben Bernanke gave a television interview, and if we can expect to see and hear more from him in the coming months.

(Tuesday, March 10) Connecticut has lost more than 38,000 jobs since January 2008, boosting the state's unemployment rate to 7.3 percent. CBIA Vice President and Economist Pete Gioia comments on the numbers released by the state Labor Department and what it means for the state's economy. Pete says despite the growing number of layoffs, some industries are hiring and the federal stimulus package will help retain jobs.

 

 

(Wednesday, Feb. 25) President Obama outlined his agenda during his address to Congress last night. CBIA Vice President and Economist Pete Gioia says it’s an ambitious plan.

Though Federal Reserve Chairman Ben Bernanke said he expects the recession to be over this year, with the bad news we received this week regarding consumer confidence, the housing market, and talk of deflation, Pete believes Bernanke's view is overly optimistic.

 

 

 

 

 

(Feb. 18, 2009) Connecticut stands to gain almost $3 billion from President Obama’s economic stimulus package.  CBIA Vice President and Economist Pete Gioia says while that’s good news, it’s not a panacea for the state. Pete, who is testifying before the Appropriations Committee this week, says legislators need to cut spending and take other actions to reduce the deficit and move the economy forward.