Fairfield University professor of economics issues forecast for Connecticut economy, is available for interviews

Fairfield University professor of economics issues forecast for Connecticut economy, is available for interviews

A national tax cut favoring investment will boost Connecticut's sluggish economy, but the state's recovery should lag at least two quarters behind the nation's, according to Edward Deak, Ph.D., professor of economics at Fairfield University.

Connecticut's higher income and property taxes, budget cuts and local and state job reductions will dampen the state's rebound, Dr. Deak said in his forecast of Connecticut's economic outlook for the New England Economic Project.

"Connecticut will most likely continue to experience a mild contraction until late in 2003, with a modest recovery in 2004 and an accelerating rate of expansion in 2005," Dr. Deak said in the report.

Additional findings include:

Enclosed is a summary of Dr. Deak's forecast. Please feel free to quote from it with credit. Dr. Deak is also available for interviews. He can be reached at his office at (203) 254-4000, ext. 2866, or at home at (203) 268-6088.

Posted On: 06-06-2003 09:06 AM

Volume: 35 Number: 322