Economic rebound? Expect a slow one, plus 12% unemployment in N.C.

Editor’s note: Dr. Harry Davis, a professor of banking at Appalachian State University, is the economist for the North Carolina Bankers Association. BOONE, N.C. – The national economy is getting close to the end of the longest recession in the post WWII period. The recession has not only had a long duration, the decline in GDP has exceeded the average decline of previous recessions of about 3 percent. The recovery following this recession will be different than those in recent memory. GDP growth has often been in the 4-6% range for several quarters on an annualized basis after recent...

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