Economy Shows Resilience Despite Mounting Recession Fears
Inflation persists but layoffs are at record lows
If there is a recession brewing in the United States, it would be news to Doug Johnson.
The president of Marion Manufacturing Co. in Cheshire, Conn., Johnson is enjoying some of the best times in his company’s 76-year history. Sure, he’s heard the negative chatter about rising prices, sinking stocks and mounting risks from trouble overseas. And he’s seen the polls showing that most Americans think the economy is headed for a tumble.
But as Johnson looks out over his 30,000-square-foot operation, all he sees are busy workers racing to keep up with new orders for a variety of vital steel and copper components, including those used in electrocardiograms and cable television hookups. His biggest problem is finding enough labor to handle all the metal-bending work that is coming his way.
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