Despite the nation’s dire economic news – with thousands of homeowners losing their homes to foreclosure and the credit markets in crisis – Connecticut’s economy continues to experience slow and moderate growth of 3 percent, consistent with the national economic growth rate, according to the quarterly report released last week by the Connecticut Center of Economic Analysis at the University of Connecticut.
However, the CEA is forecasting continued weak job growth in the state through mid-2009, when it expects job losses to occur in the state. In regard to the state’s housing sector, the CEA expects permits for new construction over the next nine quarters to slide by 13,500, just short of the 14,079 it anticipates during that same time period.
