Georgia down in three business sectors

ATLANTA - A study out Wednesday says Georgia has been hit hard over the past 12 months in the three business sectors it depends on -- air travel, conventions and tourism. <br> <br> And the University of Georgia study says the ripple effect from layoffs will continue to impact the area into next year. <br> <br> The school&#39;s annual economic forecast says job cuts at Delta Air Lines have been particularly hard on Georgia&#39;s economy. The nation&#39;s third-largest carrier said this week it is halfway to its goal of cutting seven-thousand to eight-thousand jobs by next spring. <br> <br> One bright spot over the past year has been the growth in homeownership because of historically low mortgage rates. A study by the Washington, D.C.-based Homeownership Alliance says refinancing contributed 31 percent -- or $2.8 billion -- of the economic growth in the Atlanta area this year.