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Business looks for economic improvement in coming year

Posted January 2, 2012
Updated January 3, 2012

Economy
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— Business leaders will gather twice this week to hear economic forecasts for the coming year.

The North Carolina Bankers Association and the North Carolina Chamber will host their annual forecast luncheon at noon Tuesday at the Sheraton Imperial Hotel in Durham.

Kevin Kabat, president and chief executive of Fifth Third Bank, Robert Ingram, general partner of Hatteras Venture Partners, and Harry Davis, the economist for the bankers association, will provide their outlook on the economy in 2012.

Harry Davis, Appalachian State economist Economic outlook for 2012 discussed

On Wednesday morning, the Greater Raleigh Chamber of Commerce will gather at the Progress Energy Center for the Performing Arts to hear two experts describe what the chamber calls a "different" economy.

Matthew Martin, senior vice president and Charlotte regional executive of the Federal Reserve Bank of Richmond, and John Silvia, chief economist at Wells Fargo, will discuss current conditions, future trends and general economic patterns both regionally and nationally.

WRAL.com will carry both events live, at about noon Tuesday and at about 7 a.m. Wednesday.

North Carolina State University economist Mike Walden said Monday that he expects faster economic improvement in the coming year, noting factors like building permits and unemployment claims are showing positive momentum.

"I'm cautiously optimistic that we're going to see growth accelerate in North Carolina," Walden said.

About 20,000 jobs were added statewide in 2011, and he said there could be as many as 50,000 added in 2012.

He said two factors will be critical for economic growth: A decrease in household debt, which would free up money for more consumer spending, and a rebound in the housing market.

"The housing market led us into the recession. It's going to have to lead us out," he said.

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  • fayncmike Jan 3, 2012

    "Everyone in my family is better of than they were 4 years ago, 8 years ago and 10 years ago. Why? Because the GOP economic destruction of this country was stopped by not electing another ultra conservative republican with liquified brains. Gas was $3.94 (local prices) the day Obama took office. Now it's $3.26. Development all around Cumberland, Hoke, Wake, Johnson and Harnett counties is evident if you drive anywhere. The BS war has come to a stopping point so our military men & women are coming home. Businesses are doing better and hiring more full time people. My healthcare is free because my husband is a Marine but my other family members have better health care. Sure, I pay a little more in taxes than most people and I don't mind doing it because things are better. I'm voting for Obama and so is everybody I know.
    brmyspots.

    Very well stated. By 2016, under Obama I'd think the terrible destruction brought upon us by F├╝hrer bush and his Gestapo goombahs will be largely healed.

  • brmyspots Jan 3, 2012

    Everyone in my family is better of than they were 4 years ago, 8 years ago and 10 years ago. Why? Because the GOP economic destruction of this country was stopped by not electing another ultra conservative republican with liquified brains. Gas was $3.94 (local prices) the day Obama took office. Now it's $3.26. Development all around Cumberland, Hoke, Wake, Johnson and Harnett counties is evident if you drive anywhere. The BS war has come to a stopping point so our military men & women are coming home. Businesses are doing better and hiring more full time people. My healthcare is free because my husband is a Marine but my other family members have better health care. Sure, I pay a little more in taxes than most people and I don't mind doing it because things are better. I'm voting for Obama and so is everybody I know.

  • ger Jan 3, 2012

    "NO! REAL Americans do NOT need Obama"

    i am sorry, maybe we need Presidents to start wars on false pretenses. my statement stands. America needs steady,patient,rational leadership right now. we need time to get our act (house) in order. Rebuild America not Iraq.

  • cantstandya Jan 3, 2012

    How is the housing market going to rebound when many of the jobs that are being made available either are low paying or have uncertainty in them lasting,thats one of the reasons we had so many forclosures when this all started,now that we have gone through this people are going to be far more cautious in making an investment that may or may not reap any reward,stability in our market place has been lost by our own government allowing corporate America dictate growth and their executives to sell off at will to insure they prosper at the expense of the workforce that they employ and leave abandoned.

  • Boot-the-DC-Tyrant Jan 3, 2012

    NO! REAL Americans do NOT need Obama.

  • anne53ozzy Jan 3, 2012

    As I recall, this man, whose name I missed, suggested that some were not investing rather than hold assets for retirement. May be I heard that incorrectly. If so or not, who is this speaker and what are his assets?

  • anne53ozzy Jan 3, 2012

    I just listened to some of this nonsense on line at WRAL. Sad...

  • ger Jan 3, 2012

    America needs Obama. we need to continue the steady progress back from the brink. continue withdrawing from these crazy WARS and continue back to sanity. I vote Obama 2012.

  • ger Jan 3, 2012

    "Whether or not someone likes Obama is irrelevant; he seems to be a decent human being. The fact is that "it's just business" and his policies are very business-unfriendly. Businesses have been deliberately stockpiling cash, in case you haven't noticed, and are waiting until he's gone to make themselves vulnerable by investing again"

    actually his policies and calmness are what led to stock markets regaining the lost values shortly after the election and companies recovering from the recession to post RECORD profits. you cant argue Obama killed the economy when companies are posting RECORD profits.....doesnt compute!!!!!

  • anne53ozzy Jan 3, 2012

    I was just listening on line to the remarks. Nonsense.

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