Experts predict local economy to see slow growth over next year | Business

WILMINGTON, NC (WECT) – Area financial experts delivered their annual economic outlook at UNCW Tuesday morning.

Overall, they say the economy in New Hanover, Brunswick and Pender counties will continue slow growth over the next year.

Professor William W. "Woody" Hall noted that output growth has been volatile since the beginning of the decade. According to a press release from UNCW, historical data shows that output must grow at least three percent per year to keep the unemployment rate stable.

Experts say the best case scenario for jobs would be for unemployment rates to remain stable over the next 12-18 months.

The local residential real estate sector may have stabilized, however prices continue to fall at a slower rate than last year.

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