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December 14, 2015

UGA Forecasters: Georgia Economy to Grow Faster Than Nation in 2016

Georgia's economy is expected to outperform the nation next year but job creation will be slow.  That's the word from University of Georgia forecasters.  During the annual Georgia Economic Outlook luncheon last week in Atlanta, Terry College of Business Dean Benjamin Ayers offered insights in to the positive growth forecast:

  • Georgia has a large number of major projects in its development pipeline
  • Georgia's economy will get more leverage from the housing recovery than the national economy
  • Georgia will see much faster population growth than the nation
  • Low oil and gas prices are better for Georgia's economy than for the U.S. economy
Why the slow down in job growth?
  • Companies were too cautious about hiring during the recession but caught up on staffing shortages during 2014 and 2015
  • Businesses' profits are coming under more stress due to uncertainty in national and global markets
Then entire report prepared by UGA's Selig Center for Economic Growth can be found here.

 

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