After a 2.9 percent decline in 2009, UNC Charlotte economist John Connaughton has reported an expected growth of 1.4 percent.
After only a small increase in Gross State Product (GSP) in the first half of the year, North Carolina GSP is expected to be stronger in the second half of the year with third and fourth quarter increases over 3 percent.
“The national economy has been able to put together five consecutive quarters of expansion, while the North Carolina economy has struggled to put together three quarters of growth,” Connaughton said. “The state’s economic growth during this time has only been sufficient to stem job losses, but not to generate job growth.
“We have been able to struggle through 2010 without a ‘double dip,’ but the sluggish economic growth during the past year really hasn’t felt much like a recovery,” Connaughton added.
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