Tenn. economy follows national slowdown

KNOXVILLE, Tenn. (AP) -- University of Tennessee economists say the state's economy has been weakened by the national economic slowdown, but the state should avoid a recession.

UT's Center for Business and Economic Research released their annual report to the governor on Tuesday.

But the good news is that growth continues to take place.

Nationally, reports of a weak labor market in December, job losses in January, anemic gross domestic product growth in the fourth quarter and a weakening service sector are a cause for concern.

Matt Murray, center associate director who oversees the annual forecast, said Tennessee has seen a weakening of economic conditions but few signs that the economy is contracting.

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

Comments are posted from viewers like you and do not always reflect the views of this station. powered by Disqus