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NC State Economist

NC State Economist: Economic Outlook for 2024

© [Denys Kurbatov] /Adobe Stock

In this issue of the NC State Economist, Hugh C. Kiger Distinguished Professor Jeffrey Dorfman recaps the economy in 2023 and predicts economic trends for the upcoming year.

Key Highlights:

  • Expecting slowing growth in 2024
  • Mild to moderate recession possible, but not certain
  • If the weather cooperates, it should be a decent year for NC agriculture
  • Top risks are geopolitical disruptions, a consumer spending pullback and commercial real estate refinancing difficulties