Dec
29

Charleston – An Overview of 2008

By
– The Post and Courier

It was, at best, two steps forward and two steps back for the Charleston economy in 2008, an eventful, tumultuous and unforgettable year by any measure.

Gasoline prices, which shattered the $4-a-gallon ceiling at midyear and put a serious crimp on the expense side of the accounting ledger for employers and consumer alike, finally relented and returned to more palatable levels. The long-awaited expansion of the Port of Charleston finally got under way on the old Navy base. And South Carolina continued to add to its population at an above-average clip.

But any strides the economy made over the past 12 months were offset by a gut-wrenching onslaught of twists and turns. At the national level, a long-suspected recession was officially declared, and the stock market tanked, wiping out trillions of dollars in personal net worth.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.charleston.net/news/2008/dec/29/unforgettable66405/
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