Recent Posts

Economists forecast bullish economy for 2016

Jan. 14.  All indicators point to another positive year for job growth in North Carolina, said economists at the recent Annual Economic Forecast Forum.  More than 700 business representatives and state leaders met in Research Triangle Park on Jan. 6.

Co-hosted by the North Carolina Chamber of Commerce and the North Carolina Bankers Association, the forum featured Governor Pat McCrory, Piedmont Natural Gas CEO Thomas Skains, and Brian Wesbury, chief economist at First Trust Advisors.  Wesbury lauded North Carolina’s recent efforts to successfully stabilize budgetary spending while emphasizing the continual need for our state’s leaders to invest in entrepreneurship and innovation in order to grow our economy locally.

Another notable voice currently forecasting positive trends for our state’s economy in 2016 is Dr. Michael Walden, William Neal Reynolds Distinguished Professor at NC State University.  In a quarterly economic outlook report released on Monday, Dr. Walden predicts that North Carolina will continue to beat the nation in economic growth, with our state’s gross domestic product rising about 3.5 percent faster than the rate of national growth.

In addition, we can expect to keep the streak of more than 70,000 statewide jobs created going for a fourth straight year.  Walden anticipates statewide job creation numbers of around 90,000, which could help to drop North Carolina’s unemployment rate from 5.5 percent to 5.1 percent by year’s end.


No comments yet.

Post a Comment