Posted by Debra Worley - email
WILMINGTON, NC (WECT) - An economic analyst was on the campus of UNCW Tuesday morning to share his insight into the economic future of Southeastern North Carolina.
William "Woody" Hall, UNCW senior economist and professor of economics, talked about the current economy and forecast for the local economy during the conference.
Hall said the economy should turn around by mid 2010, and if there are no major weather events this summer the housing market should stabilize by late this year.
Hall indicated that signs of strengthening local economic activity include rebounds in retail sales, real estate sales and room occupancy tax collections. He stated that, as a lagging indicator, the unemployment rate is unlikely to improve until sometime after a recovery sets in.
UNCW faculty have been monitoring the local economy for more than two decades and have been accurate in their predictions of changes in the state's economy.
To view Hall's entire presentation, click here.