How is the North Carolina economy doing?

The headline may have you thinking that this will be a political piece.  We hope not.  However, as we enter the last month of the first quarter of 2017, it seemed a good time to look at the numbers for the end of 2016 and the beginning of 2017 as provided by the Federal Reserve out of Richmond.  Overall, the economy appears to be holding its own, growing at a sustainable rate.

The good news is that the construction sector continues to grow.  The challenge may be finding enough skilled labor in the trades to keep up with the growth. It will be interesting to see how the industry responds in the coming year as the Federal Reserve adjusts interest rates to control inflation.  Also, watch to see if federal and state governments fulfill campaign pledges to undertake major infrastructure projects.  Such projects stand to be very beneficial to the construction sector.

If you want to see the detailed report from the Federal Reserve, open this link:

https://www.richmondfed.org/~/media/richmondfedorg/research/regional_economy/reports/snapshot/pdf/snapshot_nc.pdf