Dr. Ed J. Deak
Professor of Economics
o: Donnarumma Hall Rm 327
Financial services firms gird against European crisis
No one can point to names at the moment, but expectations are that as 2012 unfolds, who properly hedged positions will become clear. And there are other ways to be exposed to European debt problems, said Edward Deak, a Fairfield University economics professor.
Published in Connecticut Post, Stamford Advocate on 12/9/11
Black Friday starts strong
Edward Deak, an economics professor at Fairfield University, said Friday the last few holidays for retailers were"stinkers, to be honest." This year, retailers are hoping for a 2- to 3-percent increase in sales over last year, but that target would probably be heavily dependent on electronics sales and activity in the high-end stores, like Tiffany's and Neiman Marcus, he said.
"Personally, I'd love to see 5 percent," Deak said. "A 5- to 6-percent rise would be across the board."
Published in Stamford Advocate, Danbury News Times, Greenwich Time, Connecticut Post on 11/25/11
CT unemployment falls to 8.7% in October but 2012 looks worse
"It would be very difficult to say that that trend is underway," said Fairfield University economist Edward J. Deak. "There are just so many issues at the macro level ... and then you start looking at that list of headwinds and tailwinds, and it looks problematic for Connecticut."
Published in The Hartford Courant on 11/21/11
U CONN, Fairfield U Economists: CT outpaces nation, but big dropoff in 2012
A separate forecast by Fairfield University Economist Ed Deak, for the New England Economic Partnership, also released Friday, predicts a gain of 10,400 jobs in 2011, but a loss of 6,400 jobs in 2012. He projects that unemployment will stay near 9 percent in both 2012 and 2013, and will be 7.7 percent in 2015, far higher than pre-recession levels.
Published in The Hartford Courant on 11/18/11
Area's poverty rate third lowest in U.S.
High incomes in the surrounding suburbs helped the Bridgeport-Stamford metro region to the third lowest poverty rate in the nation last year. The U.S. Census Bureau said in a special report that 9.4 percent of the population of the Bridgeport-Stamford region was living in poverty. That tied the region with Poughkeepsie-Middletown, N.Y. "It surprises me to some extent because the city of Bridgeport was at one time,with Hartford and New Haven, listed among the cities with the highest rates of poverty," said Ed Deak, Fairfield University Professor of economics. Deak said because the region lost so many jobs during the recession, he thought the region would rank higher in poverty levels.
Published in Connecticut Post, Stamford Advocate, Greenwich Time, Danbury News Times on 10/21/11