From the Courier Post Online:
N.J. economy growing, but at moderate pace
By JEANNE RIDGWAY
The consensus is that South Jersey’s economy is growing at a fair pace and not much change is expected in the next six months, according to experts at the Quarterly Business Outlook.
Held Tuesday at Cherry Hill’s Clarion Hotel, the event was attended by about 200 business executives and guests and featured five panelists. It is a program of Rutgers’ business school in Camden.
“The regional economy has held up extremely well,” said Joel Naroff, chief economist for Commerce Bank, reflecting on the past half year. “What you saw in 2006 is what you’ll see in 2007.”
After two and a half years of robust growth, the national economy is slowing, Naroff said. Once strong, business investments across the nation are moderating. Meanwhile, home prices are dropping in some markets due to an oversupply of unsold inventory, he said.
Although New Jersey remains one of the nation’s leading technology centers, the state is not reaching its potential, according to Maxine Ballen of the New Jersey Technology Council.
“We haven’t gained ground, and we are in the same position nationally as we were five years ago,” said Ballen, the council’s president and CEO.