(CNN) – Two of the nation’s chief executives – Govs. Mitch Daniels of Indiana and Ed Rendell of Pennsylvania – assessed the current state of the economy on CNN’s State of the Union.
While economic signs are pointing to a recovery, both governors said the conditions in their own state aren’t so rosy.
“I'll say that when I talk to businesspeople, they're a lot more guarded than what some of the economists are saying just looking at the macro data,” Daniels said. “Here in Indiana, we're well below the national average. We're the lowest unemployment in the Midwest.”
While conditions may be slightly better in Pennsylvania, Rendell said business leaders are taking a cautious approach when it comes the state’s recovery.
“Businesses are still cautious, because they can't get lines of credits, they can't get sufficient loan guarantees. They simply can't get capital. And that's true for developers. It's true for all sorts of businesses,” Rendell said. “But we're seeing some very hopeful signs, and we're cautiously optimistic.”