Savannah Area Chamber of Commerce held its 2014 Economic Outlook Luncheon last Wednesday at the Savannah Marriott Riverfront.
The state, regional and national forecast was given by Dr. Knapp, Dean, Terry College of Business, University of Georgia and the local forecast was presented by Dr. Michael Toma, Armstrong Atlantic State University.
The Terry College’s 2014 baseline US economic forecast indicates that the economic recovery that began in the second half of 2009 will be sustained. The rate of 2014 GD growth – 2.3% will be higher than in 2013, but below the average of the last 50 years at 3.1%. The US is well positioned for slight acceleration in the pace of growth as a result of extensive restructuring of the private sector, including the cleanup of the financial sector, the aggressive write off of bad debts, deleveraging by consumers and more favorable balance of supply and demand for residential and non-residential properties.
On the local level, employment, education, manufacturing, and housing rankings were highlighted. Savannah 2014 Economic Trends report and additional resources and contact information are available on the Chamber’s website: www.savannahchamber.com