NWA Economic Forecast
By:
Updated: April 17, 2007
Economist Kathy Deck told us the economic outlook for our area this year will look a lot like last years.
Deck predicts real estate will stay about the same as it was in 2006, because there are still so many available homes on the market.
She says interest rates won`t fluctuate much from last year`s numbers and expects growth in employment and population to continue.
"We really see 2007 as a time for continued strength here in Northwest Arkansas. We`re seeing a lot of the plans come to fruition right now with the addition of the Pinnacle Promenade and the completion of a lot of commercial construction."
Deck says she sees nothing that would point to a slow down in job growth in 2007, and jobs she says, is what fuels the economy.
Deck says economists found the area`s largest companies don`t hold as much influence over the economy as they used to.
"Certainly Wal-Mart, Tyson and J.B. Hunt are critical to this economy but what we`ve really seen happen is that we`ve expanded beyond their direct scope."
