Business
(2009-08-26)
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That's the prediction made today by a local economist.
For years, Metro Atlanta's economy has depended largely on conventions and travel.
That's why Rajeev Dhawan says the recession hit us harder than others. The Georgia State University economist gave his quarterly forecast today.
In it, he said we have too many vacant properties, a tight credit market and high unemployment. As if that wasn't enough, Dhawan says companies have spent less on conventions and travel.
DHAWAN: "It will require the rest of the economy in the country to recover, for the convention business to recover and the inventory of unsold homes, unfinished stuff has to clean out before we can build again."
As for the future, Dhawan is watching to see if credit will become more available and if more companies make investments. He argues those are the signs of a sustainable economic recovery that will add jobs. © Copyright 2009, WABE
