N.C. economy projected to improve in 2011
One of the state’s leading economists is predicting stronger (but still modest) economic growth for North Carolina next year.
UNC Charlotte economist John Connaughton, in a report issued Tuesday, is projecting 3.2 percent economic growth for the state in 2011. That's considerably better than the 1.4 percent he anticipates for 2010 and the 2.9 percent decline actually recorded in 2009.
Despite overall improvement, Connaughton says job growth will be modest -- 38,300 net jobs in 2011, a 1 percent increase over the current employment level.
Only seven of the state’s 11 economic sectors will see economic gains in 2011, he said. Those projected to have the strongest economic growth are:
• Transportation, Warehousing, Utilities and Information (TWUI) -- up 6.2 percent
• Finance, Insurance and Real Estate (FIRE) -- up 5.1 percent
• Government -- up 4.7 percent
• Services -- up 3.4 percent
• Retail Trade -- up 3.0 percent.
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