Experts at the University of Georgia Terry College of business predict a prosperous year for the state's economy in 2017.
"We expect both GDP (Gross Domestic Product) growth and personal income growth to accelerate in 2017," said Benjamin Ayers, Terry College Dean, in an interview with the Georgia News Network.
His department predicts a 3.2-percent growth in the state GDP (compared with a predicted 2.6-percent growth in the national GDP) and a 5-percent jump in personal income growth.
"Jobs will be plentiful in our state. We'll see gains both in industries where there are good producing as well as service providing," said Ayers.
Ayers predicts single-unit home prices will jump by about 18-percent, but he also cautioned that there is an increased risk of recession.
"We're estimating the risk of recession starting in 2017 at about 35-percent. If you compare that to 2016, we expected about a 25-percent risk rate," said Ayers.
The UGA Economic Outlook Conference kicked off in Atlanta last week, and will go to eight more cities on its tour, starting with Augusta Jan. 12.
