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National Economy Shows Promise
By Regina Willis
While the state economy is in trouble, the national economy is
showing a glimmer of hope. Despite negative predictions, the national
economy expanded slightly at the end of last year.
And for the first time in a year, the Federal Reserve decided not
to cut interest rates.
The government is stepping back, hoping the recession will soon
be over.
UNC-Chapel Hill Economics Professor Patrick Conway says although
the job market is tough now, some businesses are looking forward
to better times.
"They look at their prospects...not for the next ten days,
but for the next ten years... and those prospects look pretty good
right now," Conway said.
Conway says it's ultimately individual consumer and investor spending
that pulls a country out of a recession.
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