Harry Davis

Editor’s note: Dr. Harry Davis is economist for the North Carolina Bankers Association and is Professor of Banking at Appalachian State University. Dr. Davis will speak further about the economy on Monday, January 6 at the 12th Annual Economic Forecast Forum being held at the Sheraton Imperial at Research Triangle Park. RALEIGH, N.C. – The U.S. economy is stuck in a rut and will continue to disappoint for several more quarters. GDP growth is having a hard time even growing 2 percent a year which leaves the unemployment rate well above 7 percent. This article will examine the potential impact of several...

Editor’s note: Dr. Harry M. Davis Ph.D is economist for the North Carolina Bankers Association and Professor of Banking at Appalachian State University. He writes the NCBA Business Barometer. RALEIGH, N.C. – A majority of Americans believe the U.S. economy is still in a recession even though the economy has been in an expansion for three years. The annualized rate of GDP growth in the first quarter of this year was a very disappointing 2.1 percent after a paltry rate of only 1.7% for 2011. These rates of economic growth are anemic compared to the post WWII experience. The...