By WVUA 23 Digital Reporter Kyrsten Eller
Alabama’s economy could see an increase in growth this year as the state continues to reopen commerce in the wake of COVID-19, according to researchers at The University of Alabama.
UA economists predict the state’s economy to grow 3.4% to reach $213.5 billion in Alabama’s gross domestic product. This follows the 4.8% growth in 2021.
“A 3.4% growth rate is great, considering the growth rate in the years before 2021,” said Ahmad Ijaz, executive director of the center. “It’s likely we will revise this upward, depending on how the data comes in from the fourth quarter of 2021 and the first quarter of 2022.”
Part of the Culverhouse College of Business, UA’s Center for Business and Economic Research has produced forecasts of economic activity in Alabama since 1980.
The forecasts cover Alabama’s gross domestic product, employment and income by…