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Thu December 6, 2012
Economists Predict Sluggish Growth in New Report
A new four-year economic forecast released by the New England Economic Partnership is predicting sluggish economic growth throughout New England.
The New England Economic Partnership is predicting that Massachusetts, New Hampshire and Vermont will have the strongest economies among the six New England states, but most in the region will not return to pre-recession employment levels until 2015. Vermont Economy Newsletter Publisher and Economist Dick Heaps says the forecast is no surprise.
Hugh Johnson Advisors Chief Economist Hugh Johnson agrees the New England economy will likely track the national economy.
While the region overall will experience slow growth, Dick Heaps notes that there are differences in how the individual states will perform.
The Public Assets Institute in Montpelier assesses Vermont’s fiscal policy. President Paul Cillo says while it is moving in the right direction, the Governor should focus on the low and middle income when crafting state tax and budget policy.
The predictions in the NEEP report assume no fiscal cliff. Economist Hugh Johnson.
The New England Economic Partnership warns that if "fiscal cliff" negotiations are unsuccessful, New England could be hit harder than the nation as a whole because of its higher than average per capita income.