North Carolina To Grow for Sixth Straight Year According to UNC Charlotte Forecasts
North Carolina’s economy is expected to grow by 2.5% over last year, driven by increases in 14 of the state’s 15 economic sectors. This would represent the sixth consecutive year of growth since the pandemic, according to the latest North Carolina Economic Forecast published by the UNC Charlotte Belk College of Business.
Last year’s inflation-adjusted GDP is expected to increase by 2.9% over 2024.
North Carolina is forecasted to add 65,100 net jobs this year, compared with 39,900 added last year. By December, the state’s unemployment rate is expected to increase to 4.1%, crossing over the 4% mark for the first time in more than a year. It’s now 3.7%
Complications could come from the Federal Reserve’s action on interest rates as it seeks to balance inflation concerns; the impact of the war in Iran; whether investors see an AI bubble, prompting a stock sell-off and slower consumer spending; and unfettered federal spending that may accelerate inflation, the report notes.
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