A leading economic forecaster says Georgia’s economy will continue to misfire just like the rest of the nation for the near future.
Rising gas prices...the credit crunch...the housing downturn...it’s all part of the lethal mix of factors in what Rajeev Dhawan is calling a recession for Georgia and the nation.
The director of Georgia State University’s Economic Forecasting Center compares where the state is hurting to other areas of the country:
"If you look at the job losses, they’re not terrible like the national. The loss in home prices is not as terrible as in Florida and California. But when you look at the revenue growth turnaround…that’s been a drastic one. It’s gone from a positive 5-6 percent to a negative 5-6 percent in a span of 6-8 months".
And the state’s revenue drain is being felt in university towns. Dhawan says as schools experience cutbacks, the trickle-down seeps into the communities.
Dhawan says only west Georgia is feeling an upswing in its local economy, given the construction of the KIA plant and its related business. Other regions of the state are in a holding pattern, such as ports and tourism along the coast.
Rising gas prices...the credit crunch...the housing downturn...it’s all part of the lethal mix of factors in what Rajeev Dhawan is calling a recession for Georgia and the nation.
The director of Georgia State University’s Economic Forecasting Center compares where the state is hurting to other areas of the country:
"If you look at the job losses, they’re not terrible like the national. The loss in home prices is not as terrible as in Florida and California. But when you look at the revenue growth turnaround…that’s been a drastic one. It’s gone from a positive 5-6 percent to a negative 5-6 percent in a span of 6-8 months".
And the state’s revenue drain is being felt in university towns. Dhawan says as schools experience cutbacks, the trickle-down seeps into the communities.
Dhawan says only west Georgia is feeling an upswing in its local economy, given the construction of the KIA plant and its related business. Other regions of the state are in a holding pattern, such as ports and tourism along the coast.
