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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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