The Boone Area Chamber of Commerce has released an Economic Indicators report featuring key statistics that impact the economies of Watauga County and the High Country region.
The report features a summary of local impacts by Dr. Harry Davis, Professor of Finance at Appalachian State University, North Carolina Bankers Association Professor and long-standing regional economist.
"We can expect a mild recession at the end of this year or at the beginning of 2024," said Dr. Davis. "Fortunately, North Carolina has a large rainy-day fund, tremendous population growth, and a diversified economy. Our state and Watauga County will do better in the recession than the nation due to these positive economic factors. Given the strength of the state’s budget, which funds Appalachian State University, our economic situation, particularly in terms of employment, will fare well as we move toward this expected recession."
Learn more or read the report online, 2023 Economic Indicators: Q1 Release.