One fiscal year ends and another begins for local government in North Carolina. Economically-speaking, what should we expect?
Yesterday’s outlook commentary from Wells Fargo Economics Group offers a few projections for the remainder of Calendar year 2010:
- Economic growth for 2010 is considered “subpar” with Real GDP expected to remain at a 2% growth rate.
- So far, performance is not showing any sustainable growth trend that could be use as a precursor for stability.
- Federal spending growth will continue to have an impact on GDP performance.
- Modest economic growth with respect to GDP likely means that the employment picture will not improve significantly, as also evident by this morning’s unemployment report.