Economist predicts slow growth in N.H. economy
CONCORD, N.H. (AP) -- An economist is predicting New Hampshire’s economy will grow modestly over the next two years.
Dennis Delay of the New Hampshire Center for Public Policy Studies told the Senate Ways and Means Committee Tuesday that New Hampshire’s recovery from the Great Recession is lackluster.
He said the state used to lead the nation and New England out of recessions in creating jobs, but that isn’t happening this time. He said the recovery is in danger of stalling, which would put state revenues used to support the state budget at risk.
Delay predicted the state’s economy will grow about 2.5 percent next year and at a slightly better rate starting in 2015.
The committee meets May 14 to set the Senate’s revenue estimates for its version of the budget.
Delay’s comments came as New Hampshire’s Business and Industry Association issued a survey of residents reflecting a negative view of the national economy in the next five years, and a mixed outlook for their own families.
When asked about their personal finances, only 26 percent of the residents surveyed said they are better off now than they were a year ago; 38 percent said they were worse off; and 36 percent said things are about the same.
The poll conducted by the University of New Hampshire Survey Center interviewed 507 adults by phone between April 4 and April 9. The margin of sampling error is plus or minus four percentage points.
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