This is Mary Walden with economist MW welcoming you to the economic perspective. Today’s program looks at slowing growth. Mike, we have important new reports on both the national and North Carolina economies. What do they tell us? I hope the news is good.
- First, we now have the first estimate of national GDP growth in the second quarter
- GDP is total economic output
- As expected, we had growth, but the rate of growth was lower in the second quarter compared to the first: on an annualize basis, 2.1% in the second quarter, compared to 3.1% in the first
- So still growth – that is – no recession – but slower
- New NC report is for GDP, but for 1st quarter, with a 2.8% growth rate
- Big improvement over 4th quarter rate of 1.9% – but had Florence impacts
- Still, in 1st quarter, NC was running a little behind US
- But overall – the numbers still show an expanding economy
- I’m MW
And I’m Mary Walden for the Economic Perspective, an NC State Extension program from the Department of Agricultural and Resource Economics.