Area Development News Desk (12/17/2007)
There's good news and bad: On a positive note, the economy shows modest
growth despite the fallout from the housing crisis. On the negative
side, job losses related to housing will probably worsen in the months
ahead as builders and other businesses curtail plans and lay off staff
or reduce new hiring. This is according to an early December report from the
Kiplinger Business Resource Center. The center further forecasts that a
recession will not occur, but the economy is likely to grow by about
only 1 percent in the fourth quarter of 2007 and first three months of
2008.
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