The Mississippi Economic Outlook, 2008
Business Perspectives › Vol. 19 Nbr. 2, January 2008
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Summary
The economic future is never certain, but it looks especially risky at this early stage of 2008. The subprime mortgage credit crisis, $90-$100 per barrel oil, falling consumer and business confidence, weak December 2007 employment growth, Christmas retail sales that fell 0.4%, and a falling stock market are the foundations upon which industry must build a state economic forecast. There have certainly been some positive developments in the employment picture over the 1997-2007 period. Positive employment growth, in order of importance, occurred in the construction, leisure and hospitality, transportation, trade and utilities, professional and business services, and government sectors. A slowing national economy, the declining impact of post-Katrina expenditures, significantly slowing state tax revenues, and an economy still relatively heavy in non-durable manufacturing employment argues for a modest forecast for 2008. While the forecast does not call for significant employment growth in 2008, Mississippi may escape the larger declines that are likely to occur in states where the housing bubble was more pronounced.
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The Mississippi Economic Outlook, 2008
The economic future is never certain, but it looks especially risky at this early stage of 2008. The subprime mortgage credit crisis, $90-$100 per barrel oil, falling consumer and business confidence, weak December 2007 employment growth, Christmas retail sales that fell 0.4 percent, and a falling stock market are the foundations upon which we must build a state economic forecast. While state economies are not ...
See the full content of this document
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