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A group of local economists predicts slow growth into 2013

Dec 05, 2012 -- 3:10pm

 

After two quarters of very weak growth, the national economy posted an annual growth rate of 2-point-7-percent in GDP in the third quarter of this year.  The Southeast Missouri Business Indicators  quarterly survey released this week shows growth more in the 2-percent range through this summer, unemployment will fall slowly, factory production will continue to soar, and housing starts will climb moderately.  Southeast Missouri economist Bruce Domazlicky tells KZIM KSIM overall, the growth will still be weak into next year.  Domazlicky says locally, employment dropped in the third quarter by point-7-percent, showing more people left the workforce.  He says personal incomes through are growing in our region by about 3-percent and retail sales are up over the past year. 

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