The labor and housing markets should continue their steady rise in the coming year. That's the economic forecast for a three-county Savannah region. Armstrong Atlantic State University economist Michael Toma is scheduled to give are business leaders their economic outlook later in January.
An Armstrong Atlantic State University economics professor says he thinks next year will be the first since the 2007 recession in which construction employment inches up in the Savannah area. Michael Toma says local companies poised for growth include business and professional services like marketing and web design.
Tourism and retail spending are boosting Savannah's economy, but those are the only positive signs in a third quarter economic report. Armstrong Atlantic State University's Center for Regional Analysis released its quarterly forecast this week. Center director Michael Toma says, out of seven economic trends the forecast tracks, only hotel stays and retail recepts posted gains.
A regional economist says, Savannah's recession is over. Michael Toma of Armstrong Atlantic State University says, his numbers show, the downturn ended for the Savannah area earlier this year. Port activity and tourism are leading Savannah's come-back.