Southeastern North Carolina Economic Conditions

Size: px

Start display at page:

Download "Southeastern North Carolina Economic Conditions"

Marjorie Jacobs
6 years ago
Views:

1 Southeastern North Carolina Economic Conditions January 9, st Annual Economic Forecast Sponsored by: McGladrey Wilmington Chamber of Commerce Wilmington Business Development William W. (Woody) Hall, Jr. Senior Economist H. David and Diane Swain Center for Business and Economic Services Cameron School of Business, The University of North Carolina Wilmington

2 Web Slides

3 Wilmington MSA Real Gross Domestic Product (GDP) Growth Rates (Brunswick, New Hanover, and Pender Counties) 4.0% 3.0% 2.0% 1.0% 0.0% -1.0% (F) -2.0% Source: Bureau of Economic Analysis, U.S. Department of Commerce; Ravija Badarinathi and William W. Hall, Jr., for the H. David and Diane Swain Center for Business and Economic Services, Cameron School of Business, UNC Wilmington.

4 Unemployment Rates 14% 12% 10% 8% 6% 4% 2% Brunswick County New Hanover County Pender County NC US 0% Nov Nov Source: Division of Employment Security, NC Department of Commerce; Bureau of Labor Statistics, US Department of Labor.

5 Unemployment Rates 12% 10% 8% 6% 4% 2% Brunswick County New Hanover County Pender County NC US 0% 1Q12 2Q12 3Q12 Source: Division of Employment Security, NC Department of Commerce; Bureau of Labor Statistics, US Department of Labor.

6 Unemployment Rates (Seasonally Adjusted) 12% 10% 8% 6% 4% Wilmington MSA NC US 2% 0% Source: Division of Employment Security, NC Department of Commerce; Bureau of Labor Statistics, US Department of Labor.

7 Wilmington MSA Employment Spider Chart (Brunswick, New Hanover, and Pender Counties) 140% 120% 100% % of End-of- Recession Level 80% 60% 40% July 1990/March 1991 April 2001/December 2001 January 2008/June % 0% Quarters Before and After End of Recession Source: Division of Employment Security Commission, NC Department of Commerce.

8 Retail Sales Growth Rates 20% 15% 10% 5% Brunswick County New Hanover County 0% -5% Year Ending Sept Year Ending Sept Pender County NC -10% -15% Source: NC Department of Revenue.

9 Retail Sales Growth Rates (Compared to Year-Earlier Quarter) 25% 20% 15% 10% 5% Brunswick County New Hanover County Pender County NC 0% 3Q11 4Q11 1Q12 2Q12 3Q12-5% Source: NC Department of Revenue.

10 Tourism Expenditures ($ Millions) Area % Change Rank Brunswick County $ $ New Hanover County $ $ Pender County $76.39 $ North Carolina $18, $17, Source: NC Department of Commerce.

11 New Hanover County Room Tax Collections Growth Rates 10.0% 8.0% 6.0% 4.0% 2.0% 0.0% -2.0% -4.0% -6.0% -8.0% -10.0% Year Ending Oct Source: New Hanover County Manager s Office. Yearn Ending Oct. 2012

12 New Hanover County Room Tax Collections 18.0% 16.0% 14.0% 12.0% 10.0% 8.0% 6.0% 4.0% 2.0% 0.0% Growth Rates (Compared to Year-Earlier Quarter) 3Q11 4Q11 1Q12 2Q12 3Q12 Source: New Hanover County Manager s Office.

13 Wilmington International Airport Air Passenger Traffic Growth Rates 2% 1% 0% Year Ending Nov Year Ending Nov Boardings Deboardings -1% -2% Source: Wilmington International Airport.

14 10% Wilmington International Airport Air Passenger Traffic Growth Rates (Compared to Year-Earlier Quarter) 8% 6% 4% 2% 0% -2% -4% -6% -8% 3Q11 4Q11 1Q12 2Q12 3Q12 Boardings Deboardings Source: Wilmington International Airport.

15 Port of Wilmington Container Tonnage Growth Rates 35% 30% 25% 20% 15% 10% 5% 0% -5% -10% -15% Year Ending Oct Source: NC State Ports Authority. Year Ending Oct. 2012

16 Port of Wilmington Container Tonnage Growth Rates (Compared to Year-Earlier Quarter) 15% 10% 5% 0% -5% 3Q11 4Q11 1Q12 2Q12 3Q12-10% -15% Source: NC State Ports Authority.

17 Sales of Existing Single-Family Homes (5-Month Centered Moving Average) WRAR Wilmington Regional Association of Realtors (WRAR) Brunswick County Association of Realtors (BCAR) BCAR Source: NC Association of Realtors.

18 Average Quarterly Sales Prices of Existing Single-Family Homes $300,000 $250,000 $200,000 $150,000 $100,000 WRAR BCAR $50,000 $0 3Q11 4Q11 1Q12 2Q12 3Q12 Source: NC Association of Realtors.

19 Foreclosures Brunswick County New Hanover County Pender County North Carolina , ,938 % Change ,642 1, ,251 % Change ,693 1, ,282 % Change ,458 1, ,240 % Change Dec Nov ,446 1, ,117 % Change Previous Period Dec Nov ,206 1, ,746 % Change Previous Period Source: NC Administrative Office of the Courts.

20 Wilmington MSA Real Gross Domestic Product (GDP) Growth Rates (Brunswick, New Hanover, and Pender Counties) 4.0% 3.0% 2.0% 1.0% 0.0% -1.0% (F) 2013(F) -2.0% Source: Bureau of Economic Analysis, U.S. Department of Commerce; Ravija Badarinathi and William W. Hall, Jr., for the H. David and Diane Swain Center for Business and Economic Services, Cameron School of Business, UNC Wilmington.

21 Quarterly Barometer

22 Online Data

23 Special Thanks

State and Local Economic Conditions

State and Local Economic Conditions Adult Scholars March 4, 2013 William W. (Woody) Hall, Jr. Professor of Economics Department of Economics and Finance and Senior Economist H. David and Diane Swain Center