NC Economic Growth To Slow in ’05, UNCC Forecast Says

North Carolina’s economy is expected to grow by 1.9 percent, and the state could add 56,000 net jobs in 2005, according to Carolina Economic Forecast from UNC-Charlotte.

If the forecast bears out, the economy will not match the gross state product increases of 3.3 percent in 2004 and 3 percent in 2003.

North Carolina also is expected to show a net increase of 94,500 jobs this year, up 2.5 percent over 2003, the report said.

“The North Carolina economy did not really begin its recovery until 2003. Over the past year and a half, the state’s economy has done fairly well but has trailed the U.S. growth rate,” UNC Charlotte economist John Connaughton said. “Increasing energy prices, rising deficits, declining consumer confidence and increasing interest rates will slow both the U.S. and North Carolina economies in 2005.”

For details, see (Note, this is a PDF file): www.belkcollege.uncc.edu/forecast/