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For Immediate Release
(March 11, 2009) The latest issue of the Coastal Empire Economic Monitor shows a continuing decline for the Savannah metro economy through the last quarter of 2008. The Economic Monitor, published by Armstrong Atlantic State University's Center for Regional Analysis, is available free online at www.econ.armstrong.edu.
The Coastal Empire coincident economic index, a measure of the regional economic heartbeat, declined 1.8 percent for the fourth quarter. Falling consumer confidence, a slowed tourism industry and drops in port activity and employment pulled down the coincident index, which fell 5.5 percent for the year.
"The rate of decline in the Coastal Empire leading economic index slowed somewhat at the end of the year," said Michael Toma, director of AASU's Center for Regional Analysis. "Although this might be a small victory for the fourth quarter, the year-long trajectory was sharply down by 16.3 percent."
Added Toma, "The forecasting index continues to send a strong signal that the economy will continue to face difficult challenges through the latter part of 2009."
The Economic Monitor's leading and coincident indexes offer readers an informational tool that can be used to adjust to changes in regional demand conditions. The signals provided by the indicators may be used to control inventory, optimize staffing, adjust marketing or pricing strategies, forecast revenue or capitalize on other opportunities in the regional economy.
The Economic Monitor presents quarterly economic trends and short-term economic forecasts for Savannah's Metropolitan Statistical Area (MSA). The quarterly report measures the heartbeat of the local economy, based on the analysis of economic data from the U.S. Census Bureau, the U.S. Department of Labors Bureau of Labor Statistics, the City of Savannah, Georgia Power and the three counties in the MSA -- Chatham, Bryan, and Effingham. The report presents a short-term forecast of the regions economic activity in the next six to nine months.
The Economic Monitor is available free by electronic mail. To subscribe, email emonitor@armstrong.edu. Write "subscribe" in the subject line or body of the email.
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About AASU's Center for Regional Analysis:
AASU's Center for Regional Analysis meets the applied research needs of Savannah's business and community organizations. Areas of concentrated research include regional economic forecasting, economic impact analysis, economic development and business expansion, tourism development, survey-based research, and specialty reports on topics of state, regional and local interest. The center's activities are intended to appeal to a broad range of constituencies, and the center stands ready to enter into cooperative partnerships with public, private, and community organizations.
For Immediate Release
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| Michael Toma,director of AASU's Center for Regional Analysis. |
AASU Economic Monitor: Regional Economy in Extended Slide
(March 11, 2009) The latest issue of the Coastal Empire Economic Monitor shows a continuing decline for the Savannah metro economy through the last quarter of 2008. The Economic Monitor, published by Armstrong Atlantic State University's Center for Regional Analysis, is available free online at www.econ.armstrong.edu.
The Coastal Empire coincident economic index, a measure of the regional economic heartbeat, declined 1.8 percent for the fourth quarter. Falling consumer confidence, a slowed tourism industry and drops in port activity and employment pulled down the coincident index, which fell 5.5 percent for the year.
"The rate of decline in the Coastal Empire leading economic index slowed somewhat at the end of the year," said Michael Toma, director of AASU's Center for Regional Analysis. "Although this might be a small victory for the fourth quarter, the year-long trajectory was sharply down by 16.3 percent."
Added Toma, "The forecasting index continues to send a strong signal that the economy will continue to face difficult challenges through the latter part of 2009."
The Economic Monitor's leading and coincident indexes offer readers an informational tool that can be used to adjust to changes in regional demand conditions. The signals provided by the indicators may be used to control inventory, optimize staffing, adjust marketing or pricing strategies, forecast revenue or capitalize on other opportunities in the regional economy.
The Economic Monitor presents quarterly economic trends and short-term economic forecasts for Savannah's Metropolitan Statistical Area (MSA). The quarterly report measures the heartbeat of the local economy, based on the analysis of economic data from the U.S. Census Bureau, the U.S. Department of Labors Bureau of Labor Statistics, the City of Savannah, Georgia Power and the three counties in the MSA -- Chatham, Bryan, and Effingham. The report presents a short-term forecast of the regions economic activity in the next six to nine months.
The Economic Monitor is available free by electronic mail. To subscribe, email emonitor@armstrong.edu. Write "subscribe" in the subject line or body of the email.
AASU's Center for Regional Analysis meets the applied research needs of Savannah's business and community organizations. Areas of concentrated research include regional economic forecasting, economic impact analysis, economic development and business expansion, tourism development, survey-based research, and specialty reports on topics of state, regional and local interest. The center's activities are intended to appeal to a broad range of constituencies, and the center stands ready to enter into cooperative partnerships with public, private, and community organizations.