UT Researchers Predict Slow Economic Growth - NewsChannel5.com | Nashville News, Weather & Sports

UT Researchers Predict Slow Economic Growth

Posted: Updated:

KNOXVILLE, Tenn. (AP) - University of Tennessee researchers are predicting modest economic gains for the state through the first half of 2013, but they say significant economic improvement is still a year or two away.

That's according to UT's fall 2012 Business and Economic Outlook released this week by the school's Center for Business and Economic Research.

Report author Matt Murray told the Knoxville News Sentinel (http://bit.ly/SBbHL8) that an increase in residential building permits and rising home prices are signs of a strengthening housing market, which could be a "real game changer" for the economy.

Most sectors show prospects for job growth in 2012 and 2013.

The state unemployment rate is expected to average 8.2 percent this year, down from 9.2 percent in 2011.

Taxable sales are expected to rise 5.9 percent this year.

(Copyright 2012 by The Associated Press. All Rights Reserved.)

Powered by WorldNow
Powered by WorldNow
All content © Copyright 2000 - 2014 NewsChannel 5 (WTVF-TV) and WorldNow. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.