Study: N.C. economy to contract this year - Houston Business Journal:

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percent below the 2008 according to UNC Charlotte economisfJohn Connaughton. He foresees output declinexs for nine ofthe state’s 11 economic sectorsx this year. The sectors with the largest expected declinexare construction; agriculture; finance, insurance and real retail trade; durable-goods manufacturing; wholesaled trade; nondurable-goods manufacturing; transportation, utilities and information; and services. For 2009, North Carolin is likely to lose 123,50o net jobs, Connaughton says. The sectors that are expecterd to display the greatest employmenr declinesare construction, durable-goods manufacturing and nondurable-goodd manufacturing. The N.C. economy contracted by 0.
3 percent duringv 2008, he says. That compares with a 2.4 percent increasde in gross state product in Connaughton states in his quarterly Last year, the state’s economy lost 120,000 net The sectors that saw the biggest employmenft declines were durable-goods manufacturing, constructiob and nondurable-goods manufacturing, the reporgt states. For 2010, the Nortjh Carolina’s gross state product is expectec toincrease 1.9 percent over the 2009 Connaughton says. Seven of the state’s 11 economic sectorw are forecast to experience growthnext year.
The sectorz with the strongest expected growthy forecastsare finance, insurance and real estate; services; transportation, warehousing, utilitiea and information; and wholesaled trade.