FEBRUARY 2015
www.ConnTact.com
‘Stunning’ Economic Growth Predictions? By Elizabeth Regan Connecticut’s economy could grow at a rate of 8.1 percent this year, according to a report released Wednesday by University of Connecticut economists, who describe the prediction as both “stunning” and “dubious.” The Connecticut Center of Economic Analysis released its study Wednesday morning, hours before Gov. Dannel P. Malloy was scheduled to present his two-year budget proposal.
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Law Firms Make A Comeback From Recession
“Preliminary estimates for 2014 show Connecticut growing faster than the national economy and then surging by a stunning (and dubious) 8.1 percent in 2015, before tapering off to 3.2 percent growth in 2016,” the authors wrote. “Connecticut might now be on a strong growth trajectory, driven by biotechnology, aerospace engineering, venture capital, and a significantly more competitive environment. But if history predicts a rosy future, the array of downside risks is unusually long.” Last year’s projected 4.8 percent increase in output and the creation of 25,000 new jobs combined with uncertainties in the trajectory of fuel prices and the U.S. dollar exchange rate inform an outlook that is optimistic with reservations, according to the report. Continued on page 8
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FEBRUARY 2015
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