The worst is behind us, and we're seeing aspects of recovery,"
I came across some interesting quotes from Google CEO Eric Schmidt this morning. Here's his thoughts on the current state of the economy:
“The worst is behind us, and we’re seeing aspects of recovery,” Mr. Schmidt told a group of reporters Wednesday morning at the company’s offices in downtown Manhattan. “We’re increasing our investment and hiring rate in anticipation of a recovery.”
The low point for Google’s business, Mr. Schmidt said, came in the spring. Things started picking up in June. Europe did not trail the United States, as many economists had expected, he noted.
It was less than two months ago, Mr. Schmidt said, that Google decided to switch on the hiring and acquisition programs again.
In the cycle of economic recovery, Mr. Schmidt said, businesses first stabilize and begin feeling more confident, then they increase advertising and only later, hiring.
“I would hope we’re a leading indicator,” he said.
Interesting stuff. Is Google a leading indicator of increased business spending? Time will tell.
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