What’s Ahead for U.S., N.C. Economy? Forums to Offer Insight

Research Triangle Park, N.C. — A pair of annual economic forums this week will offer a variety of insider’s views about the national, state and regional economies entering 2008.

Kicking off today is the joint production of the N.C. Bankers Association and the North Carolina Chamber in RTP. (The Chamber changed its name last year from North Carolina Citizens for Business and Industry.) The usual sellout crowd of about 1,000 people is expected to turn out at the Sheraton Imperial. The program is set for noon. A preliminary program will discuss economic development efforts in western N.C. beginning at 11 a.m.

RBC Centura Chief Executive Officer Scott Custer, U.S. Comptroller General David Walker and David Seiders, chief economist for the National Association of Home Builders, highlight the noon program.

Sieders is expected to focus on the North Carolina real estate market. Two weeks ago in an update on the national housing market, which suffered in 2007, Sieders said that the industry was stabilizing. However, the trade group’s index about the industry remained tied with a 22-year low.

"Today's report shows that builders' views of housing market conditions haven't changed in the past several months, and there clearly are signs of stabilization" Sieders said on December 17,’

"At this point, many builders are bracing themselves for the winter months when home buying traditionally slows, scaling down their inventories and repositioning themselves for the time when market conditions can support an upswing in building activity -- most likely by the second half of 2008," Seiders added.

On Thursday, the Greater Raleigh Chamber of Commerce will host its economic forecast with a breakfast session that begins at 7 a.m.

John Silvia, chief economist at Wachovia, and Matthew Martin of the Federal Reserve Bank in Charlotte, headline the program. Silvia will focus on economic prospects in the Triangle.