South Carolina’s economy is at a crossroads heading into 2024. Unemployment is at a historic low, and economic growth remains positive. Yet the effects of high inflation and rising interest rates are beginning to take their toll on South Carolinians. For consumers, prices have been rising faster than wages, which is having an adverse impact on household budgets and spending. And because inflation is still above the Federal Reserve’s target, there may be additional interest rate hikes in the near future.
Will inflation remain elevated in 2024, despite its recent trend downward? Will interest rates stay high? Is a recession still likely? How would persistent higher interest rates impact the stock market and the housing industry? How does the recent slowdown of the global economy — and especially China — factor into the economic outlook?
The University of South Carolina Darla Moore School of Business will hold its annual Economic Outlook Conference on Tuesday, Dec. 5, from 11:30 a.m. – 3:45 p.m., and will feature experts from around the state to address the crucial questions about how the South Carolina and U.S. economy will likely unfold in 2024.
A special expert panel will also address the critical role of infrastructure to the long-term competitiveness of South Carolina. With the huge expansion of U.S. federal infrastructure funding, along with state-level commitments, South Carolina’s improved infrastructure is poised to advance future economic growth and development across the state.
The event will be interactive and will include several opportunities for Q&As. More information coming soon.