Georgia Works

Georgia Works

Chip Rogers

More Recovery in 2014 Predicted by Economists

By Chip Rogers Posted January 9, 2014 5:52pm (EST)
The housing market in Metro Atlanta is predicted to help spur growth in Georgia.

The housing market in Metro Atlanta is predicted to help spur growth in Georgia.


More Americans will benefit from the economic recovery this year as fiscal uncertainty gives way and consumers and business owners start to feel more confident, according to BBVA Compass economists.

"In 2014, stronger business and consumer confidence, higher household net worth, a lower drag from fiscal policy, a surge in housing prices that boost construction activity and credit growth will support stronger regional growth," Boyd Nash-Stacey, a BBVA Compass economist, wrote in a recent report. "Our baseline is for 2014 to be the first year of growth convergence in seven years, thereby allowing the recovery to reach the most Americans since 2006."

He continues his analysis by stating that the real estate markets in Georgia, along with Minnesota and Pennsylvania, will continue to spur economic growth in each state.

Along with real estate helping to drive GDP growth, he expects manufacturing and energy markets will play a role as well - which bodes well for Georgia.

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