July 10, 2011
Hmmmmmmm – From Dentistry IQ
“The McGill Advisory” is forecasting continued improvement for dental practices in 2011, as the economy continues to slowly recover. The stock market rally has continued, erasing all of the 2008-2009 decline. Meanwhile, interest rates have remained very low by historical standards. Job creation is rising and layoffs are diminishing, resulting in unemployment rates that have been dropping each month.
Meanwhile, banks have begun easing their lending standards somewhat, and more practice loans are being approved. Housing prices have “bottomed out” in most areas of the country, and are headed up in a small minority of markets. All of these factors have created rising consumer confidence so far in 2011, and we expect this to continue for the balance of the year. While rising food and gas prices will hurt discretionary spending,nevertheless we feel that dental spending will register another small gain in 2011.
Reprinted with permission from May 2011 issue of the “The McGill Advisory” newsletter through John K. McGill & Company,Inc., a member of The McGill & Hill Group, LLC. Visit www.mcgillhillgroup.com for more information.
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