No, this post is not about a Friday night with Casey Cagle and Mark Burkhalter, but concerns the assessment from UGA’s Terry College Dean Robert T. Sumichrast at Tuesday’s Georgia Economic Outlook luncheon in Atlanta of the state of the economy. More from the Red and Black:
Even though the economy has bottomed out and is not expected to dip a second time into recessionary levels, it will be the most subdued bounceback in consumer spending since World War II. “A slow rebound after a deep recession like this is unusual,” Sumichrast said, “but this upturn will be different. Our recovery will be slow and bumpy. You can expect Georgia’s economy to underperform the national economy until real estate and construction stabilize sometime in 2011.”
Sumichrast predicts a meager expansion of the the state’s gross domestic product soon, as well.