What’s the rest of 2010 going to look like?

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.

Click here for a copy of the Wells Fargo Securities Economics Group report.

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