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ODU Local 2014 Economic Forecast and Analysis for Hampton Roads

Forecast Data as presented by ODU Economists:
http://www.odu.edu/forecasting/regional/analysis
• Real Gross Regional Product up 2.20% (Historical average for region, 3.10%)
• Employment up 1.5%, unemployment rate 5.3% (2013 unemployment rate, 5.9%)
• Retail Sales – expected to grow by 3.6%
• Tourism – expected to rise 2.4%
• Port – general cargo tonnage to gain 4.8%
• Housing – value of single family permits up 7.9%