The odds of a recession are high heading into next year. That’s according to the latest projections from UGA’s Terry College of Business, which also show Georgia’s economic growth is expected to slow significantly, but not stop, in 2020.
The report predicts the state will experience a 1% growth rate, compared to 1.2% for the nation. Terry Dean Ben Ayers making the pronouncements at the 37th Annual Economic Outlook in Atlanta.
Ayers also said the state will create less than one-third of the new jobs added in 2019.
The forecast also declares further escalation of the trade tensions with china and the nation’s major partners will end the decade-long expansion and it the main risk of recession.
According to the report, consumer spending will increase home values will rise and home sales will increase.
Gainesville is expected to have the highest job growth rate in the state, followed by Atlanta, Athens, Augusta and Brunswick. Columbus, Macon, and Savannah will see little to no growth and Albany is expected to experience a small decline in jobs.
Georgia Economic Outlook program in Atlanta, the series will tour the state, visiting eight other cities to deliver local, state and national forecasts. The Athens visit is scheduled for February 5, 2020.
