Examine the chart above and answer the following questions in at least 200 words.
Place your answers here
According to the charts New Hampshire’s economy is currently very positive. There has been a significant drop in the employment chart, but has raised significantly between 2020-2021 And has since lowered to hey slightly above average rate. Overall New Hampshire’s economy is very similar to its United States counterpart, And does typically go into a recession when the United States does, but overall I do not believe New Hampshire is in a recession currently.Usually New Hampshire lags behind the rest of the country when it comes to recessions, but overall they usually follows the same trend.The top three industries in New Hampshire are tourism, healthcare, and high-tech industries. Tourism has changed over time Because as each year come and goes, more people come down to either ski or see the leaves change colors. And for healthcare this has definitely changed depending on who is currently in office, for example there is currently an abortion ban in New Hampshire.And lastly for the high-tech industry, this changes constantly due to new technologies. For my company if New Hampshire is going into a recession, then Grappone should focus on paying off their bills, and trying to sell the cars that they currently have, so that way they do not have access inventory during the recession.
Question to the businesses A regional economic cycle is not perfectly synchronized with its national counterpart, although it tends to move up and down with the national economy. In addition to the broader national economy, two other factors influence a regional economy: the national cycle of its most important industries and its internal growth cycle associated with construction swings. There are two different perspectives to consider in analyzing a regional economy: when a company sells into a distinct local market and when a company produces in a local market and sells into a national or global market.
Please, discuss how the regional economy affects your business and what you do in response.
Response from businesses
| Business | Response from Business |
|---|---|
| Graponne | We are a regional business, so we are more impacted by what is going on in northern New England. From my perspective, the ’08-’09 recession was not as bad in New England as was the ’90-’92 downturn. New Hampshire was hit much harder in the early ’90’s. Many of NH’s largest banks failed in 1992, |
| Bank of New Hampshire | Our primary operating area is NH, and to a lesser extent all of New England, so regional economic cycles are important. We monitor economic data on the state and regional level – Fed in Boston puts out excellent information – and respond accordingly, |
| Comptus | We have no direct regional sales. 50%+ of our revenue is from International sales. Almost all domestic sales are through large distributors, so we have very limited visibility to regional activity. |