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nonprofits, and technology.
A Economic outlook: Louisiana and the
District of Columbia were the only jurisdictions that showed over-the-month
increases in the level of employment. As
a whole, however, the Southeast was
typical of the nation in reflecting increasing unemployment.
In the Fed districts corresponding to
the Southeast region, Atlanta and Richmond saw consumer spending weaken
during the year and remain down at
year’s end. Both tourism and business
travel were down in the Atlanta District,
which also reported lower shipping volume in its manufacturing sector.
The 20 Top 100 Firms in the Southeast grew their revenue to $1.18 billion
in 2008, an increase of roughly 17 percent over the previous year.
A Business strategy: The region’s
T100 firms named attest, business recovery/recession advice, business valuations, estate/trust/gift tax planning,
forensics/fraud, international tax, litigation support, M&A, SOX compliance/
risk management, and state and local
taxes as their top specialty services. Top
client categories included banking and
thrift companies, health care facilities,
manufacturing, professional services,
and real estate.
A Economic outlook: States in the
Midwest generally experienced less of a
rise in unemployment than the rest of
the nation. North Dakota, at 3. 5 percent
at year’s end, posted the second-lowest
unemployment rate in the nation.
At the close of the year, consumer
spending was down, although Kansas
City noted an increase in the demand
for used cars. Kansas City reported
Growth all around
Local firm revenue growth,
year-to-year percentage change by region
South North New York Central Upper West &
East East Midwest
reductions in manufacturing orders. December at 8 percent.
Minneapolis and Kansas City both Overall activity weakened during
reported “decent” harvests. the year. Dallas and San Francisco both
The Upper Midwest’s five Top 100 reported deteriorating conditions in the
Firms reported combined 2008 revenue services sector. San Francisco did note
of $768.34 million, an increase of just stronger demand for aerospace manu-under 13 percent over the prior year. facturers, while Dallas and San Fran-
A Business strategy: Area T100 cisco reported increases in food pro-firms reported attest, business valua- cessing. San Francisco reported job cuts
tions, forensics, IFRS consulting, inter- and hiring freezes across a wide range of
national tax, litigation support, M&A, industries, while both districts noted
state and local taxes, and technology as decreases in crop and cattle prices.
their top specialty services. The top The 17 T100 Firms in the West and
client categories were banking, colleges Southwest reported $1.06 billion in rev-
and universities, health care facilities, enue in 2008, up 9 percent over 2007.
manufacturing, nonprofits, pension A Business strategy: The area’s top
plans, and wholesale distributors. firms named attest, estate/trust/gift tax
planning, international tax, mergers and
acquisitions, and nonprofits as their top
specialty services. The top client cate-
gories were broker/dealers in securities,
health care facilities, individuals, manu-
facturing, nonprofits, pension plans,
professional services, real estate, tech-
nology, and wholesale distributors.
WEST AND SOUTHWEST
A Economic outlook: Most states in the
West and Southwest experienced heavier unemployment than the national
average. Of the four Bureau of Labor
Statistics geographic regions, the West
posted the highest jobless rate in