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Main Page Contact Francisco Duque, 912.961.3173 For Immediate Release Economic Monitor: Moderate Growth Ahead for Coastal Empire(December 21, 2007) The Coastal Empire Economic Monitor for the third quarter of 2007 is now available at www.econ.armstrong. edu/cra/monitor.htm. The Economic Monitor, published by Armstrong Atlantic State University's Center for Regional Analysis, presents quarterly economic trends and short-term economic forecasts for Savannah's Metropolitan Statistical Area (MSA). 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. Data for the third quarter of 2007 showed that the leading economic index lost some ground, but the local economy continued to grow, although slowly. "The regional economy continued to expand at a modest pace in the third quarter based primarily on underlying employment growth," said Michael Toma, Ph.D., director of the Center for Regional Analysis. "Tourism activity contributed, but higher gasoline prices and modest growth in the Georgia economy have inhibited growth in that key sector of the metro area economy." The short-term outlook for the region is mixed with sluggish growth continuing into the initial months of 2008. "The forecasting index is sending mixed signals about future economic conditions in the Savannah area," Toma said. "Anticipate sub-par growth in the regional economy through the early months of 2008. The probability of recession in the regional economy is extremely low, even as the U.S. economy appears headed for uneven growth owing to continued credit and housing market difficulties." Chuck Mitchell, partner in Maloney Mitchell Denton Commercial Properties, uses the Economic Monitor as a tool to better understand and anticipate turns in the local economy. "My business is commercial real estate brokerage and we deal with national, regional, and local market builders and developers," Mitchell said. "Part of our brokerage services is to provide the above entities with an understanding of what is happening in the Savannah area. We use the Economic Monitor in presentations to clients to show the latest job growth numbers and offer an idea of how our local economy is progressing via both the coincident and leading indicators. Its a great tool for us." The Economic Monitor is available free by electronic mail. To subscribe, email Economic Monitor. Write "subscribe" in the subject line or body of the email. |
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