Finance.
Author | Nerland, Brian |
Position | 2007 Alaska Forecast |
Experts may be split over the direction of the state and national economy in 2007, but that doesn't mean the news is bad.
Economists at Moody's predict that the Anchorage economy, in particular, will continue to expand, if not at the pace of last year. It should surpass the growth of the overall U.S. economy in the near term.
Meanwhile, Standard & Poor's monitors the Federal Reserve's actions and concludes that an economic slowdown in the U.S. is under way, with expansion ahead at a moderate rate.
Some of the bigger risks facing the national economy are present in Alaska as well--things like foreign oil prices, a potential softening of the housing market and the unpredictable direction of both short- and long-term interest rates.
But overall, several segments of the economy here in the state were strong in 2006, and should remain so.
These include, at the top, natural resource industries like mining and oil and gas. Other strengths include transportation. For example, Ted Stevens Anchorage International Airport will likely continue to see growth that has it ranked first in domestic and fourth internationally for air cargo shipments. The Port of Anchorage, gateway for 90 percent of the products...
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