On Monday, the federal government finally announced that our economy is officially in the midst of a recession; a downturn that began in December 2007. It’s about time the Feds spoke up. Most of us know that in the absence of information, many assume the worse and fear quickly takes over. On the other hand, most of us operate best when we have information even it’s really bad news. Humans can handle reality better than the unknown.

 

So, now we know that our economy is in a recession. Let’s accept that and move on.

 

The good news is that most recessions last only 10 months and really bad ones last 16 months. Call me overly optimistic, but that tells me a positive upturn should begin sooner rather than later. I don’t expect a dramatic uptick. I will, however, gladly take an end to this downturn.

 

If the economic downturn has slowed activity around your workplace, use this time to connect with your clients and industry peers. Connecting does not need to be an expensive proposition. Simply meet over a cup of coffee or cocktails, and hold off on the expensive meals until we are certain a recovery is at hand.