Oct
27

Economists Say Double-dip Recession Unlikely in S.C.

By

A double-dip recession is increasingly unlikely for the S.C. economy, state economic forecasters said Wednesday, citing higher tax collections that continue to exceed expectations.

“The revenue picture continues to brighten and things seem to be stabilizing,” said Chad Walldorf, chairman of the state Board of Economic Advisors, which prepares economic forecasts used by the governor and lawmakers to write the state budget.

The board had projected the state would collect 1 percent fewer tax dollars this year than it did last year. But the board learned Wednesday that collections are running nearly $71 million, or almost 6 percent ahead of those projections.

READ MORE HERE

Be Sociable, Share!
    Categories : South Carolina News

    Comments are closed.