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.)




 
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