Such is the composite testimony of nine business leaders from key South Jersey sectors during the quarterly South Jersey Business Outlook Conference on July 15. The executives shared their perspectives on the region's economic performance during the first half of 1999 and offered their predictions for the balance of the year. Six of the experts suggested that the economy would sustain its current level of activity during the coming six months. Dr. Milton Leontiades, dean of the Rutgers University School of Business at Camden , moderated the panel. Commerce Bank hosted the event at its Commerce University location in Mount Laurel.
Delinquencies are at an all-time low, despite a surge in consumer debt.
Construction Bruce Paparone, executive vice president for the Paparone Corporation, reported that overall new home sales were declining, largely due to the scarcity of available land and building materials. Citing state-imposed restrictions on growth, he observed that economic advancement could be difficult if workers could not afford housing. Overall, business activity in southern New Jersey grew slightly faster during the year's second quarter than in the first. Crone expressed his optimism for the future. Many of those hospitals are using the interest on their investments to cover losses, a practice that Miller noted as being finite in its ability to maintain viability.