A recent Charlotte Business Journal article states that the NC economy should grow by 2.7% this year, which is up from 1% last year according to John Connaughton, a UNC Charlotte economist.
“Overall, the N.C. economy suffered through a modest recovery at best during 2010,” he says. “While the U.S. economy maintained a modest yet stable record of economic growth, the N.C. economy started strong but had very weak growth during the spring and summer quarters.”
In his latest quarterly forecast, Connaughton foresees growth in seven of the state’s 11 main economic sectors this year. Sectors that are expected to experience output growth: finance, insurance and real estate, with a projected real growth of 1.5 percent; government, with an increase of 1.1 percent; and nondurable goods manufacturing, with a projected growth of 0.3 percent.
Connaughton forecasts that North Carolina will gain 64,700 net jobs this year, an increase of 1.7 percent over the employment level in December 2010.
Sectors with the strongest employment growth this year should be wholesale trade, retail trade, services and finance, insurance and real estate.
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