Wednesday, December 1, 2010

How are you planning for 2011?

As the year is quickly coming to a close, information about the economy is still front page news. Just this week President Obama called for a pay freeze for federal employees for the next 2 years.  And last week the Federal Reserve released a report about the state of the economy over the next few years.
According to an AP article that was posted last week, Federal Reserve officials have become more pessimistic in their economic outlook through next year and have lowered their forecast for growth. The news for 2012 and 2013 is better, and lower unemployment rate is projected for 2012.
These reports come in the midst of many businesses annual budget cycles.  At a time when businesses need to make more money, and spend more on sales efforts and marketing, it's disheartening to hear that the economy might not start to really bounce back for a couple of years.
As you plan your budget for 2011, are you taking all of the reports into account? How is the growth of the economy (or lack of growth) impacting your plans for 2011?

Alyssa Kirkman
Sr. Manager, Association Services

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