Is the recession really biting?

It seems everywhere you look these days there's doom and gloom about the recession. I'm sure everyone reading this knows someone who has been made redundant, had their hours cut or otherwise suffered due to economic down-turn. However, while everything else seems to be heading ever more downwards, the photo industry seems to be carrying on regardless.

A couple of months back we had the launch of the Canon EOS 500D and Nikon D5000 and now Sony have released a raft of THREE new consumer level models. Not only that but Pentax are in on the act too with the announcement of the K-7. It all adds up to a time when you'd be forgiven for thinking there was a global recession going on. At the very least I'd expect companies to hold off a little. Maybe keep products 'live' for a little longer before replacing them. Or maybe it's a concerted effort to drive sales upwards and so stave off poor economic results. Sony for example posted their first net loss in 14years just the other week - and it was big too - $1.03billion. Nikon too have seen a drop. While they're still in profit, they've seen their profits fall 63% for the year ended 31st March '09 - down to 28.06 billion yen from 75.48 billion yen the year before.

So what's going on? We've got cameras being launched when you'd think the market was in a downturn and at the same time, prices from the major manufacturers going UP. It's like giving with one hand and taking away with the other.

What do you think? Are you likely to buy a new camera in the near future or are you taking the squirrel approach of saving for a harsh winter?

-blabpictures-