Wilmington’s 25th Annual Economic Forecast predicts good 2017


WILMINGTON, NC (WWAY) — The Wilmington Chamber of Commerce and Wilmington Business Development hosted Wilmington’s 25th Annual Economic Forecast Wednesday morning.

Each year, economists making their predictions for the upcoming year.

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This year’s speakers include Richard Kaglic, a senior regional economist with The Federal Reserve Bank of Richmond and Dr. Adam Jones, a regional economist with University of North Carolina Wilmington.

Kaglic predicts 2017 will be a good economic year for the Cape Fear.

“Wilmington was kind of late to the economic recovery party, if you will. So their recovery has been taking place in kind of a faster clip than some of the smaller metropolitan areas of the state,” he said. “So, I expected in 2017, Wilmington is going to do a little better than the state and the U.S. average.”

Kaglic expects job growth across the board, especially in professional business services.

While he says no particular industry is going to be in trouble in 2017, he says manufacturing could be the exception. He says manufacturing output is growing, but manufacturing jobs are not.