SAVANNAH, GA (WTOC) -
The area's economy is experiencing a
continued upswing and improvement, according to the Coastal Empire Economic
Monitor.
The research released Sunday was conducted by
Armstrong Atlantic State University's Center for Regional Analysis.
Job and tourism growth, a boost in port
activity and an upswing in the housing market improved the coincident index of
economic activity and the leading economic index, according to AASU news
release.
Data show 3,100 jobs were added in the third
quarter; hotel room rentals increased 7 percent from last year; trolley and tour
bus ridership increased 6 percent from the same time a year ago.
Jobs were added in the areas of education,
health, leisure and hospitality, business and professional services and retail
sales.
The number of residential building permits
issued is up 5 percent from last year and on track to be the best year since
2008, according to the AASU news release.
"Third quarter economic performance was
notably strong," said Michael Toma, director of the Center for Regional
Analysis and Armstrong's Fuller E. Callaway Professorial Chair, in a statement.
"The October jobs report extends the momentum established in the third quarter.
It is a good sign for the regional economy that employers are beginning to fill
gaps in their workforce in response to increased demand."
The monitor's outlook for fourth quarter is
positive, but warns that the Congressional debate could derail growth for the
period.
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