Georgians have been pinching pennies to get by during a rough economy, and the hard times are likely to continue next year.
Economists at the University of Georgia’s annual Georgia Economic Outlook say odds are high the nation will experience a recession in 2023.
“We are expecting that Georgia’s economy in 2023 will end its post-pandemic expansion in the second quarter, and we are predicting a mild recession that will begin at that point,” said Benjamin Ayres, dean of the university’s Terry College of Business. “Now, we do expect a recession only to last about six months, and that is short. On average, the length of a post-World War II recession is about 10 months.”
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