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Alabama's Economy to Fare Better than Many States

MONTGOMERY, Ala. (AP) - Economists and fiscal experts are predicting Alabama will fare better than many states during the national economic slowdown.

The Center for Business and Economic Research at the University of Alabama is forecasting modest economic growth of 2.2 percent for Alabama in 2008. That's down slightly from the 2.3 percent recorded in 2007. But it's better than the national forecast of 2 percent.

The center expects more than 21,000 new jobs in Alabama in 2008 and 23,000 in 2009. It also says the state's housing market is in better shape than the nation's.

Center director Sam Addy says a recession is unlikely to hit Alabama. While the state will face challenges, he says it will fare better than many other states.

Governor Bob Riley sees positives in the forecast. He says while the economy is slowing down, it is still growing. And that means more new jobs.

(Copyright 2008 by The Associated Press. All Rights Reserved.)


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