University of North Carolina Wilmington
University of North Carolina Wilmington

Swain Center

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Swain Center Quarterly Economic Briefing

By the Numbers

 By the Numbers

*YoY = Year over year, change from 12 months prior

Economic Outlook

Is This the New Normal?

The U.S. economy has grown at a disappointing pace since the last recession; is this the new normal?

Growth has not been as fast as previous recoveries and this trend looks set to continue for some time, possibly a new normal. GDP has expanded by around 1.5%, reflecting a drop in our underlying ability to grow, growth in potential GDP.

Growth in Potential GDP

The slowdown comes from two factors:

Looking forward:

Watch for:

The Regional Outlook

The regional economic outlook for next year is “sunny with a chance of showers.” There is a high degree of uncertainty for the next year from both political and economic sources, including both federal and state elections. The region is likely to outperform the national economy.  

Gross Domestic Product Growth

Gross Domestic Product Growth

The positive regional outlook is driven by:

Looking forward:

Watch for:

Adam Jones

Dr. Adam Jones

Associate Professor of Economics, Cameron School of Business
Regional Economist, Swain Center

Dr. Jones has been with UNCW and the Cameron School of Business since 2010, after obtaining his Ph.D. from the University of Georgia. Prior to joining the faculty, Dr. Jones worked with the Newton County Chamber of Commerce in Covington, GA. He has published in the Economic Development Quarterly, the Atlantic Economic Journal, and the Journal of Economics and Finance. He plans to continue his local public finance and regional economics research at UNCW with a focus on North Carolina issues and tax-base development.

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Wilmington Watercooler

Was your company prepared for the hurricane and the risks it presented to your business? The right planning minimizes risk.

As Hurricane Matthew was progressing up the east coast, I began to think about hurricane preparedness. Being a seasoned project manager caused me to look at events like this in a different light. I wondered how many other organizations had individuals thinking about the hurricane as a risk event that would affect their company. Planning is the key. A structured methodology is required to minimize the consequences of a risk event. A proactive approach reduces surprises and negative consequences and provides better control over future organizational outcomes.

Risk is just one aspect that needs to be addressed in managing the many projects you will be involved with. An Economist Intelligence report showed that 80% of global executives believed having project management skills as a core competency helped them remain competitive during the recession. McKinsey & Co. found nearly 60% of senior executives said building a strong project management discipline is a top-three priority for their companies as they look to the future. Executives from leading organizations across all sectors have discovered that adhering to project management methods and strategies reduced risks, cut costs and improved success rates; all vital to surviving.1

Given savage world-wide competition, project management has emerged as a crucial factor that determines the success of any organization. Implementing a structured process to your project management initiatives has been shown to result in:

If you are looking for a way to stay ahead in today’s highly competitive global economy, forward-thinking organizations are turning to project management to consistently deliver superior business results and manage risk. Interested in Project Management?

  1. The Value of Project Management, Center for Business Practices, West Chester, PA
  2. The Value of Project Management, PMI White Paper, 2010
Drew Rosen

L. Drew Rosen, Ph.D., Jonah

Progress Energy/Gordon Hulbert Professor of Operations Management
Past APICS CEO & International President

Dr. Rosen has held the rank of Professor of Operations Management at Cameron since 2002. He served as MBA director from 1997 through 1999. Dr. Rosen was honored by being elected as the 2002 International President and CEO of APICS (the Association for Operations Management, formally the American Production and Inventory Control Society). Drew has also held adjunct teaching positions at Hochschule Bremen, Bremen, Germany, and Kedge Business School, Marseille, France. Prior to joining the faculty at CSB, Dr. Rosen was a visiting assistant professor and a teaching/research assistant at the University of South Carolina. He has also been an instructor and graduate teaching fellow at Old Dominion University.

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October 2016

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