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THG Corporation
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THG Corporation News
Federal Reserve First To Say
Economic Recovery Coming
The first slightly optimistic words about the economic forecast for the country and New England in particular have been heard from the Federal Reserve Board in a report it released this summer. The New England region manufacturing sector could expect "increases in demand" and that the outlook was "generally optimistic, although cautious."
The report discussed retail, staffing, real estate, and manufacturing sectors with all of them having improved prospects. In manufacturing, the report cited comments from manufacturers that conditions "continue to be good" and that some manufacturers reported "very strong sales growth" in the first quarter of this year. Pharmaceutical and medical device manufacturers, an important part of the New England manufacturing base, reported progress, particularly "compared with the end of last year."
Capital spending at most manufacturers included in the Fed's survey continued to be in line with previous years. A few companies, however, "are investing more in order to adjust their capacity to meet increased demand." According to published accounts, the Fed researchers wrote, "firms in most sectors are expecting either steady or improved growth in demand for their products and services."
Employment and Unemployment
Two important indicators for understanding the current economic situation are employment and unemployment figures. In its most recent report, the US Bureau of Labor Statistics released figures showing the change over the past year in the jobs picture. The unemployment rate overall in New England held steady of the past 12 months. New Hampshire, Maine, and Vermont were significantly lower than the US average unemployment rate, which was reported at 8.8 percent.
The year to year employment figures were also encouraging in New England. The 1.3 percent pace of growth in jobs was slightly faster than the US average, which was only 1.1 percent. While the actual number of jobs and the rate of growth were not impressive on their own, the fact of an upward trend compared favorably to the declines experience in the previous two years.
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THG Headquarters
THG Corporation Headquarters and manufacturing facility is located in Northborough MA, near the intersection of Rt-290 and Rt-495, approximately 40 miles west of Boston.
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