The recession in Georgia will last a year and a half, with a recovery not arriving until late next year--so says a top state economic forecaster. Robert Sumichrast, Dean of the University of Georgia’s Terry College of Business forecasts the state’s economy as "dreadful" for the first half of 2009. He says there will be a doubling of unemployment, and continued falling housing prices.
Meanwhile, Governor Sonny Perdue tried to sound the optimistic tone for the state. He told a gathering in Atlanta at the Annual Georgia Economic Outlook luncheon that he will take the lead in reducing the state’s budget, while growing business in Georgia.
Meanwhile, Governor Sonny Perdue tried to sound the optimistic tone for the state. He told a gathering in Atlanta at the Annual Georgia Economic Outlook luncheon that he will take the lead in reducing the state’s budget, while growing business in Georgia.
