Here in US at least, people have been in talks about the recession for quite long time now and are predicting that it has already started. The journalists have been writing so many pages about it – some verifying the incident where as others trying to defy that. The economy slow-down has happened in such a serial manner in US that it completely points towards the downside of industry.
Personally I am still not in position of accepting the present scenario as a recession and so are lot other people.
This time, the slow-down has started because of falling housing prices which directly influences mortgages and hence the public in large for the payments. This in turn affects the interest rates of banks/financial institutions which are driving economy of this nation (now that sounds a little bit crazy sometimes but going into details, you realize that it is a fact with United States of America). Finally, this whole process is impacting the state of industry here.
But the fall in property prices isn’t going to be there for long period activity as predicted by the leading property consultants here. Therefore, although many firms have already started taking safeguard steps including Yahoo! laying off and still more expected (which of course appear ridiculous to most of us), there are other firms like Google which are on hiring spree and funding is getting raised for startups like always. You realize the pace when you hear about the millions of dollars ($29.5 milling to be precise) funded for Automattic deriving WordPress.
Looking at all these reports, it is very hard to predict the state of recession. Leading Capitalists as well as Individual Investors are finding it right time to use their money in right way keeping promising ventures in eye regardless of the scenario with Financial Instis and that is what deriving the scene!! Again, I am repeating, I don’t think this is what we can call a recession, exactly as I have realized after getting into discussions with my friends outta here. It is just a temporary phase.
But yes, I am happy from one thing that Indian economy is rising and rupee is appreciating continuously. Looks like time for serious consideration and reform for the Indian operations derived from outside the country.