Economist Says NC Economic Outlook Not As Good As '06

North Carolina's economy will do better than than the nation's in 2007, but an economist for the North Carolina Bankers Association says it won't be as impressive as last year.

Harry M. Davis says after the economy expanded by an estimated three-point-one percent in 2006, the state economy will slow to a growth rate of about two-point-seven percent over the next 12 months. That's a little better than the two-point-six percent growth rate Davis predicts for the nation.

He says declines in housing and auto manufacturing will darken the national picture for spending, jobs and wages.

Davis made his predictions at the annual economic forum sponsored by the bankers association and NC Citizens for Business and Industry.

Knight Kiplinger, editor of the Kiplinger Letter, also told the conference that strong government spending, including on the war in Iraq, will boost military-related economies in eastern North Carolina.


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