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Article: Local economy booms along: '99 outlook bolstered by tech firms, consumer spending.(Business Times)
- Article from:
- The Washington Times (Washington, DC)
- Article date:
- December 28, 1998
- Author:
CopyrightCOPYRIGHT 1998 News World Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Economists predict the Washington area's economy will outpace the nation next year, shaking off the effects of recession in nearly half the world and plowing ahead on the strength of consumer spending and the area's vibrant high-tech enterprises.
The national economy is expected to slow by half from its robust pace near 4 percent this year. But locally, growth may actually pick up speed as the District enjoys a long-awaited revival, federal spending increases selectively, and Northern Virginia's job-creating machine shifts into high gear, analysts said.
"The local economy outperformed the national economy in most ways in 1998 and will continue to ...