Experts weigh in on AL's economic growth - WSFA.com Montgomery Alabama news.

Experts weigh in on AL's economic growth

Posted: Updated:
  • More newsMore>>

  • Teacher hit by train expected to make full recovery

    Teacher hit by train expected to make full recovery

    Monday, July 28 2014 8:50 PM EDT2014-07-29 00:50:28 GMT
    Officials at the Smiths Station Fire Department say the victim, later identified as Vivian Martin, was transported to Midtown Medical Center with what appeared to be non life-threatening injuries.More >>
    Multiple sources tell News Leader 9 that a Smiths Station teacher was hit by a train earlier today in Lee County.

    Officials at the Smiths Station Fire Department say the victim, later identified as Vivian Martin, was transported to Midtown Medical Center with what appeared to be non life-threatening injuries.
    More >>
  • Judge OKs record-setting $2B sale of Clippers

    Judge OKs record-setting $2B sale of Clippers

    Monday, July 28 2014 8:37 PM EDT2014-07-29 00:37:50 GMT
    Only final arguments and a ruling remain in the trial to determine whether Donald Sterling's estranged wife can sell the Los Angeles Clippers to former Microsoft CEO Steve Ballmer for $2 billion.More >>
    Embattled Los Angeles Clippers owner Donald Sterling lost his attempt to block the $2 billion sale of the team to former Microsoft CEO Steve Ballmer.More >>
  • US: Russia violated 1987 nuclear missile treaty

    US: Russia violated 1987 nuclear missile treaty

    Monday, July 28 2014 8:33 PM EDT2014-07-29 00:33:08 GMT
    The Obama administration is accusing Russia of violating a 1987 nuclear missile treaty, calling the breach a, quote, 'very serious matter.'More >>
    The Obama administration is accusing Russia of violating a 1987 nuclear missile treaty, calling the breach a, quote, 'very serious matter.'More >>
MONTGOMERY, AL (WSFA) -

It's a question many are asking following the great recession -- what will our economy look like in the coming years?

Tuesday many local business leaders found out what experts are saying, including how Alabama is faring as well.

Surrounded by great economic minds, Montgomery business men and women learned what to expect in the coming year.

"We're moving in the right direction. 2014 will be better than 2013," Mark Vitner said.

Kathleen Hays from Bloomberg Radio, Senior Economist for Wells Fargo Mark Vitner and CEO of the Federal Reserve Bank of Atlanta Dennis LockHart spoke at the AUM Business Forum.

They say the state of Alabama positioned itself well during the Economic downturn and there's one main reason -- the automobile industry.

"It accounted for a very large proportion of the state's economic growth this past year," Vitner said.

According to Mike Randle, Founder of Birmingham Business Journal, it's probably the largest manufacturing wave to hit the south since World War II and Montgomery's a part of it.

While each speaker did admit the economy is growing, there are still big concerns about the high rate of unemployment.

"Long term unemployment is at historically high levels and the number of people working part time while looking for full time work remains elevated," LockHart said.

Economists say the nation's modest growth is good but fear it won't be enough to stimulate substantial job growth.

Economists believe the state will continue to land large manufacturers over the next few years.

Copyright 2013 WSFA 12 News. All Rights Reserved

Powered by WorldNow