An annual projection of South Carolina’s economy predicts the state will continue to see moderate growth into 2015, but not as strong as is typically expecting while recovering from an exceptionally powerful recession.
University of South Carolina economists Doug Woodward and Joey Von Nessen released their annual economic outlook for the state on Wednesday. The outlook predicts that job creation will grow at 1.9 percent next year, roughly equivalent to the 2 percent reported so far in 2014. However, they agreed South Carolina’s economy was the strongest it had been since the housing market crashed in 2008.
“It’s moderate growth,” Woodward told reporters while revealing the pair’s findings. “It’s not as robust as we’ve seen in previous expansions in the 1990s and earlier in the 2000s. At this stage in the business cycle, we usually see stronger growth across all sectors.”
“South Carolina has hit its stride in 2014. We expect that to continue,” Von Nessen . “If you like 2014, you will like 2015 too.”