Wednesday, December 19, 2012

Economic Outlook 2013

Dr. Joey Von Nessen and Dr. Doug Woodward, research economists with the University of South Carolina, presented the 2013 Economic Outlook last week.

They expect gradual and stable growth in South Carolina should a resolution be found to avoid the fiscal cliff. Job growth is predicted to increase by 1.2 percent in 2013.

Manufacturing has been a major source of growth for the State but other industries are improving, including the much battered housing industry.

"Residential construction turned a corner in 2012,” Von Nessen said. “Sales activity is up and house prices are rising again, which suggests a better year for housing ahead.” Von Nessen.  He expects housing to continue its increase in 2013.

To learn more about the full outlook view the video below or visit USC's analysis HERE




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