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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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