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UT study: Lackluster growth in first quarter, but overall gains expected in 2014

Posted at 10:39 am May 30, 2014
By University of Tennessee Leave a Comment

KNOXVILLE—An abnormally harsh winter led to lackluster economic growth the first quarter of 2014, but a dip in unemployment rates and expected increases in housing investments signal stronger gains for the remainder of the year.

The gross domestic product is expected to increase 2.4 percent this year as a whole, compared to 1.9 percent last year, according to the spring 2014 Tennessee Business and Economic Outlook released Friday at the University of Tennessee in Knoxville.

The national unemployment rate will likely average 6.5 percent this year compared to 7.4 percent last year, the report shows. It is expected to decrease to 6 percent in 2015.

The study, prepared by UT’s Center for Business and Economic Research, predicts the direction of the state and national economies by examining many economic and fiscal factors and trends. [Read more…]

Filed Under: Business, College, Education, Top Stories Tagged With: Center for Business and Economic Research, China, consumer spending, durable goods, economic growth, economies, employment, exports, first quarter, gross domestic product, housing, income, labor market, manufacturing, Matt Murray, natural gas sales, payroll employment, taxable sales, Tennessee Business and Economic Outlook, Ukraine, unemployment, unemployment rate, University of Tennessee, UT, vehicle sales, winter temperatures

UT report: Economy shows signs of strength, finds ‘firm footing’

Posted at 6:00 am June 6, 2013
By University of Tennessee Leave a Comment

KNOXVILLE—Falling unemployment rates, an increase in vehicle sales, and a long-awaited rebound in the residential housing market are all indications that the national and state economies are making a comeback.

Despite sequestration of federal spending and a payroll tax increase that have slowed consumer spending, the economy is poised for strong growth in both 2014 and 2015, according to the spring 2013 Tennessee Business and Economic Outlook released Wednesday.

The study, prepared by the Center for Business and Economic Research, or CBER, at the University of Tennessee in Knoxville, predicts the trajectory of the state and national economies by examining many economic and fiscal factors and trends. [Read more…]

Filed Under: Business, College, Education, Top Stories Tagged With: CBER, Center for Business and Economic Research, consumer spending, economic performance, economies, federal spending, Great Recession, housing, manufacturing, manufacturing employment, Matt Murray, nonfarm employment, payroll employment, payroll tax, personal income, residential housing, sequestration, State Policy Reports, Tennessee Business and Economic Outlook, unemployment, unemployment rate, University of Tennessee, vehicle sales

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Classifieds

Public Notice: NNSA announces no significant impact of Y-12 Development Organization operations at Horizon Center

AVAILABILITY OF THE FINAL ENVIRONMENTAL ASSESSMENT FOR THE OFFSITE HOUSING OF THE Y-12 DEVELOPMENT … [Read More...]

ADFAC seeks contractors for five homes

Aid to Distressed Families of Appalachian Counties (ADFAC) is a non-profit community based agency, … [Read More...]

Public notice: Draft environmental assessment for Y-12 Development Organization at Horizon Center

AVAILABILITY OF THE DRAFT ENVIRONMENTAL ASSESSMENT FOR THE OFFSITE HOUSING OF THE Y-12 DEVELOPMENT … [Read More...]

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