Reserve a hotel or lodging in Vermont at Discount Web RatesSlow Growth Predicted For Vermont Economy
Carr: Housing Market Biggest Drain On Economy
BURLINGTON, Vt. — The Vermont state economist is predicting slow growth of the state economy through 2011.
Jeffrey Carr said a sluggish housing market and high fuel prices would help restrain the economy. He explained there would be a loss of construction jobs and disposable income because people would have to spend more for gasoline and heating fuel. Carr is planning to present his report Thursday at a meeting in Boston. Job growth in Vermont is expected to be six-tenths of 1 percent this year and less than 1 percent for the next five years. Carr also said the housing market will be the biggest drain on the economy. But Vermont’s economy is helped by the weak U.S. dollar, which draws Canadians to northern Vermont.
