Economists are forecasting the financial outlook for the new year and say the loss of jobs will continue to be a problem.

Local and state economists spoke Wednesday at the Hilton in Greenville to members of the Chamber of Commerce.

As most of the nation experienced a drastic loss in jobs, then an increase in foreclosures, they say eastern Carolina has not been dramatically affected, yet. They say conditions in our part of the state are stable...But consumer confidence is still low, businesses are cautious to hire and residents are not spending as much. Despite all of that, there's still optimism about the new year.

Dr. Matthew Martin with the Federal Reserve says despite all of the negatives, he is still positive. Dr, Martin says, "The U.S. economy and the state's economy is certainly resilient and over time and well get through this."