Recession may be over but for many it doesn't feel that way | McClatchy Washington Bureau

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Economy

Recession may be over but for many it doesn't feel that way

Darrell Smith and Mark Glover - The Sacramento Bee

October 30, 2009 06:35 AM

It looks like the longest U.S. recession since the 1930s is over.

So why doesn't it feel that way?

After four quarters of shrinking, the nation's economy — as measured by its gross domestic product — grew 3.5 percent in the third quarter, the Commerce Department reported Thursday.

But the news did little to erase the gloom that has settled over Sacramento's economic landscape like a thick tule fog.

Local businesses are keeping the umbrellas within arm's reach. Local consumers, battered by furloughs and job losses in nearly every sector, are struggling to find shelter.

They're making less, spending less and holding on.

"Yeah, I just bought a bigger wallet, because I'm making so much money over here," said Steve Ryan, co-owner of Rudy's Hideaway on Folsom Boulevard in Rancho Cordova, when he heard the news that the economy was officially growing again.

"Over the last couple of months, it hasn't gotten worse, but I feel like it's trying to get out of its own way," he said. "In the whole scheme of things, it hasn't gotten worse, but it has gotten only a little bit better."

Ryan said his restaurant's fate is shared by other local eateries — things aren't as bad as they were, but business is far from booming.

To read the complete article, visit www.sacbee.com.

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