By Catherine M. Welch
Wilmington, NC – The economy in southeastern North Carolina is expected to grow by 1% this year and expand by 3% next year.
That's the word from UNCW economist Woody Hall. Economic analysis by Hall shows the year started off with a bang in the first quarter and then slowed down.
Hall monitored New Hanover County's room occupancy tax, the area's housing market and air travel out of Wilmington. He found revenue from the occupancy tax has been falling since October of last year. And the average price for a house in Brunswick County is down by 40% since prices peaked in 2007.
Hall says while he expects the Cape Fear region's economy to inch up a little this year, the state's economy is expected to fall by 1.6%.
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