Panel to discuss recovery prospects for retailers

How much credence should we give to the recent improvement in economic statistics?

Alan M. Gayle, senior investment strategist and director of asset allocation at SunTrust Bank's RidgeWorth Investments unit, said, "We expect the economic reports to give encouraging signals in the second half of this year. We're likely to get a bounce."

The bounce may come because consumers and businesses have cut spending in the past year, and probably more than they needed to.

"Near term, the economic data is likely to be encouraging," he said. "The challenge will be how much momentum will be retained as we enter 2010."

That's the sort of economic forecasting that retailers and other businesspeople can hear Friday at the Retail Merchants Association's annual economic forecast breakfast.

Panelist Ann Battle Macheras, vice president of regional research at the Federal Reserve Bank of Richmond, will provide insight into the regional economy.

Kenneth M. Gassman Jr., founder and president of the Jewelry Industry Research Institute in Hanover County and a former retail analyst with Davenport & Co., will serve as the panel's moderator.

The panelists will provide retailers with thoughts about how consumers might spend in the fourth quarter and into 2010.

The event will be held from 7:45 to 9:15 a.m. at the Westin Richmond hotel, 6631 W. Broad St. in Henrico County.

The cost, which includes breakfast, is $25 for members and $30 for nonmembers. To register, go to http://www.retailmerchants.com or call (804) 662-5500.

-- Iris Taylor