"We didn't see any improvement at the end of the quarter that gives me encouragement that we're at the bottom and coming out of it, said Liddell. During the quarter it stopped getting worse, but that's different than starting to get better, and I think that'll be the same for the fourth quarter.
He added that he expects the rest of the calendar year to follow that trend. While we'd all like to think the recovery will be soon and painless, we unfortunately believe it'll be slow and gradual, he said.
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