Consumer confidence rebounded and a boost in tourism and port activity drove economic growth for the regional economy during the second quarter, according to an economic index from Armstrong Atlantic State University.
AASU released its Coastal Empire Economic Monitor on Sunday. The Savannah-area economy had modest growth, which should continue until the year's end, according to the report.
The analysis warns that momentum in one of the leading economic indicators could mean slower growth going into early 2014.
"The humdrum growth we are currently experiencing is welcome, but not inspiring," said Michael Toma, Fuller E. Callaway Professor of Economics and director of Armstrong's Center for Regional Analysis, in a statement. "The forecasting index suggests there is more uncertainty about the regional economy starting in early 2014. Interested parties should closely monitor economic conditions in the coming months to obtain a clearer signal about the direction of the economy in 2014."
Some highlights from the Coastal Empire Economic Monitor, according to an AASU news release:
The Coastal Empire Economic Monitor measures the local economy each quarter economic forecasts using data from the U.S. Census Bureau, the U.S. Department of Labor's Bureau of Labor Statistics, the city of Savannah, Georgia Power and Chatham, Bryan and Effingham counties.
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