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Economic Research

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Volume 12, Number 4
Fourth Quarter 2010


EconSouth Explores the Southeastern Economy in 2011


The Southeast economy in 2010 was marked by strength in some areas and continued weakness in others, with more of the same expected for 2011. "The Southeast in 2011," which appears in the fourth-quarter issue of EconSouth, highlights the opportunities and challenges awaiting the region's economy in the coming year.

The southeastern states of Louisiana and Alabama saw strong job growth in the first three quarters of 2010, gaining 39 percent and 18 percent, respectively, of jobs lost in 2009. Louisiana has the region's lowest unemployment rate, while the job gains in Alabama are helping the state's fiscal situation—its projected state budget shortfall is the smallest in the region.

Manufacturing is also performing well in the Southeast economy. In Tennessee, Volkswagen will begin production at its newest auto plant in 2011. Construction on another new plant, this one for the batteries that will power the Nissan LEAF electric car, broke ground in May 2010. Next door, the Nissan vehicle assembly plant is undergoing an upgrade to accommodate production of the LEAF, which will start rolling off the assembly line in 2012. The state's green technology sector has added hundreds of solar manufacturing jobs. Green industries are taking hold in other southeastern states, including Florida, Georgia, Louisiana, and Mississippi, which will welcome three new biofuel plants over the next few years.

The ailing real estate market has been a dark cloud over much of the Southeast economy. Florida's real estate market was especially hard hit, but it has also bounced back the strongest. Total residential sales through most of 2010 reached 71 percent of their peak in 2005. Georgia has seen its share of real estate problems, which have hurt its banking sector. The state has the nation's most bank failures since the crisis began.

For more information on the southeastern economy in 2010, see the full storyPDF document in the fourth-quarter issue of EconSouth, available in print or online.

Related Links by Sector

Agriculture

U.S. Department of Agriculture's economic research

U.S. Department of Agriculture's crop data

Autos
Automotive News

Automotive Digest

Banking
FDIC's list of failed banks

Federal Reserve Board's 2010 Beige Book reports

Consumer Spending
U.S. Bureau of Economic Analysis personal income and spending data

University of Michigan's consumer confidence survey

University of Florida's statewide consumer confidence survey

Middle Tennessee State University's statewide consumer confidence survey

Employment
U.S. Bureau of Labor Statistics regional and state employment data

JOLTS data

American Staffing Association statistics


 

Manufacturing
Institute for Supply Management

Industrial production data

Kennesaw State University's Econometric Center

Real Estate
Existing home and pending home sales data (National Association of Realtors)

Existing home sales data (Florida Realtors)

Mortgage market research and trends

State Fiscal Issues
Regional Economic Information Network

Center for Budget and Policy Priorities

Tourism
U.S. Bureau of Economic Analysis travel and tourism spending data

Federal Aviation Administration airport capacity report

Atlanta Fed blog posts on the Gulf oil spill

EconSouth article on the Gulf oil spill