2009 economic outlook: When will downturn end?
Economists across the region are crunching the numbers, trying to answer the question that's on everyone's mind: when will the economy turn around?
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Economists across the region are crunching the numbers, trying to answer the question that's on everyone's mind: when will the economy turn around?
The housing market will likely stay sluggish in 2009, experts say, with further declines in the number of sales and prices. "If the local housing market stabilizes in 2009, it's going to be at the very end of the year," said Coastal Carolina University research economist Don Schunk.
This past September, Jeff Weaver of Myrtle Beach was a licensed residential contractor. Today, he's part of a crew of 11 in Antarctica installing generators for a power plant upgrade.
Gas prices aren't expected to take drivers on the wild ride that they did in 2008, experts predict. They will likely climb and waver in 2009, though it's not clear how high they will go.
Operators of golf-related businesses on the Grand Strand are braced to weather what could be an economic storm in 2009. Paid rounds on Strand courses were down 8.5 percent in 2008 compared with 2007, according to statistics compiled for marketing cooperative Myrtle Beach Golf Holiday, and another palpable drop is expected this year.