Despite all that's going on in the world right now, economists don’t think Americans will shy away from spending. News 3 takes a look at the business and economic trends in our area.
A war, two major hurricanes, and questions about how quickly the government responded. Many Americans view this as at time of uncertainly.
The White House, however, says things are actually going well for the economy. Business sectors and local officials say the same is true for the Brazos Valley.
" It seems the retail sector in particular is very strong, housing is still strong and the more people we have come to town the better those segments are," said Jim Pillans, director of the Brazos Valley Small Business Development Center.
Pillans says the center has seen an increase in the number of people interested in starting small businesses in town. The center is also processing business disaster loans for Texas and Louisiana business owners who want to rebuild in Bryan/ College Station.
" Certainly it's a challenge for small businesses during this time, but all over the country there's about a half a million businesses that start every month and I don't see any slow down of that taking place in our area," said Pillans.
James Gaines, is an economist with the Real Estate Center at Texas A&M. He says the real estate market isn't slowing down much either. But other factors may have an effect on when people choose to buy a house.
" With the increase in fuel and gas prices, people may be becoming a little bit more conservative in their thoughts about buying a house," said Gaines.
Whether you'll want to start a new business or buy a new home may also depend on your perception of how the economy is doing.
" There's not as much confidence in the economy. It's more a psychological thing because right now the economy still appears to be growing," said Gaines.
The Brazos Valley Small Business Development Center offers free business consult services. For more information call 979-260-5222.
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