Bloomberg– A study by the University of Connecticut’s Connecticut Center for Economic Analysis (CCEA) projects construction and operation of CPV Towantic will generate more than $7.9 billion in new personal income for Connecticut residents over the next 25 years and will create, at its peak in the construction phase, more than 2,300 positions.
Upcoming Conference Brings Energy Leaders Together
Fred Carstensen, professor of finance and economics, will speak at the annual Energy, Environment and Economic Development conference on March 9 from 7 AM to 1:30 PM.
The conference brings together Connecticut leaders from energy and related industries to understand how their businesses interact with environmental policy and development.Continue Reading
Hartford Business Journal – “Connecticut has had steady improvement but not very strong improvement,” says Fred Carstensen, director of the Connecticut Center for Economic Analysis at UConn.
The Greek Debt Crisis and the Eurozone
UConn Today – Eurozone leaders have agreed to an economic bailout for Greece that keeps the debt-ridden nation in the 19-country common currency pact, but only if the Greek government implements a host of deeply unpopular austerity measures, including cuts to public pensions and sales tax increases. The total rescue effort could amount to 87 billion euros in emergency funding over the next three years including an immediate emergency 10 billion euro loan to help Greece keep its fragile banking system afloat and repay loans due this month.
Connecticut Mirror – There are bright spots in Connecticut’s sluggish economy, even as Connecticut’s key manufacturing sector has lagged, a recent federal report says. Those bright spots include healthcare, finance and professional services like information technology, the Commerce Department’s Bureau of Economic Analysis says.
Flat Lining – Connecticut’s Disappearing Economic Growth
Connecticut Center of Economic Analysis – In early June, the federal Bureau of Economic Analysis (BEA) revised national 2015Q1 GDP estimates, including, unfortunately, strong downward revisions for Connecticut’s Real Gross State Product, wiping out the strong growth reported in CCEA’s previous Outlook.
UConn economists at The Connecticut Center for Economic Analysis predicted strong economic progress and growth for the state in a report released Wednesday.
One model predicts Connecticut’s gross domestic product would grow 4.85 percent in 2015 and in 2016, but a second model predicted even more robust growth. The group also anticipates strong progress in the jobs market, from the current level of 1.69 million jobs in December 2014 to 1.73 million by the end of 2016.
The economists urged state government to invest in education, transportation and high-speed communications systems to enable long-term economic and job growth. The same organization also warned that extensive government ‘belt tightening’ could damage the state’s robust recovery and thwart its chance at sustained employment growth.