How Charlotte would fare in a recession
Economist says there's a lot in our favor — but potential challenges, too
The following article appeared in the Aug. 7, 2024, edition of The Charlotte Ledger, an e-newsletter with smart and original local news for Charlotte. We offer free and paid subscription plans. More info here.
As fears about the economy rise, a recession would be a mixed bag for Charlotte, economist says
A plunging stock market, election uncertainty, international conflicts, lackluster corporate earnings, weaker-than-expected economic data — all of these are adding to fears of a recession.
That worry has been amplified in the last few days, with big drops in stocks following a discouraging report on employment on Friday.
If the economy turns south, what would that mean for Charlotte? Are we a boomtown largely immune from national economic malaise? Or are we heavily tied in to everything that’s happening?
The Ledger put those questions to Mark Vitner of Piedmont Crescent Capital, who is probably Charlotte’s best-known regional economist.
For Charlotte, there’s good news and bad news. The good news, Vitner said, is that: