Georgia's economy will still struggle in 2010 - WALB.com, Albany News, Weather, Sports

Georgia's economy will still struggle in 2010

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By Ben Roberts - bio | email

ATLANTA, GA (WALB) – University Georgia Business School Dean Robert Sumichrast presented a disappointing economic outlook for the upcoming year Tuesday in Atlanta. He says commercial real estate and consumer spending in Georgia will remain weak in 2010.

Another economist, though, said the national economy is now in recovery. "People aren't panicking anymore. They're finally convinced that they're not in great danger of losing their job. The job market is stablelizing. Layoffs are coming down. That makes them a little more willing to go out and actually spend money," said Standard and Poor's Chief Economist David Wyss.

Last year, Dr. Sumichrast predicted Georgia's economy would have picked up by now. He expected unemployment would peak at 9% early next year, but it's already above 10%. 


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