Starting in September of 2007, my company saw it's sales fall off dramatically. It was a very visible indicator of a change in the economy. Mostly, at that time, our customers were pushing contract decisions into 2008. Much of that business never materialized in 2008 due to the unfolding crisis (businesses were "hunkering down") and the slowness in sales has continued with a flat trend. Q1 of 2009 was one exception with a small increase in sales. My business does not directly correlate with corrections in inventory, so I was hopful that this was a "green shoot" for our business. However, Q2 2009 is looking to drop back to the flat level of 2008.
Bottom line, I'm not seeing any signs of a recovery yet. It still looks very "L" shapped to me.
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