“SUFFERING” A MODEST RECOVERY
The North Carolina economy will continue a sluggish recovery for the rest of this year and into 2012, UNC Charlotte economist John Connaughton predicts in his quarterly Babson Capital/UNC Charlotte Economic Forecast. John reports that the state economy expanded by only 1% in 2010, following a ?contraction of .8%? in 2009 . (Would we call that ?false labor??) North Carolina?s economy experienced a modest increase in GSP of 2% during Q1 2010. But in Q2, state GSP dipped 1.5%. So what does it all mean, John? ?Overall, the NC economy suffered through a modest recovery (an interesting turn of phrase) during 2010,? John says. ?While the US economy maintained a modest record of economic growth, the NC economy started strong but had very weak growth during the spring and summer quarters.?