The Terry College of Business at the University of Georgia sponsored an Economic Forecasting Series that helps explain Georgia's model for growth, trends shaping the nation's economic focus and what different cities across the state can expect in the months ahead.
According to the economic forecast prepared by the Selig Center for Economic Growth, Georgia's economy is going to rise higher than the nation's economy in 2014. Furthermore, the state's inflation-adjusted GDP will grow at 3 percent next year, with an influx of 1.8 percent more jobs. In contrast, the nation's GDP will see a 2.3 percent growth rate overall with 1.5 percent increase in the jobs.
"Private sector job growth will be well balanced in 2014, which reduces the risk of recession because Georgia's growth will not be dependent on the performance of just one or two big economic sectors," said Charles B. Knapp, interim dean of the Terry College of Business and president emeritus of UGA. "The fastest job growth will occur in construction, followed by professional and business services, and mining and logging."
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