East South Central 2013 Regional Forecast

East South Central 2013 Regional Forecast

There are some sizeable projects underway in Tennessee and Alabama, with the $312.6 million expansion of Kruger Products’ KTG USA plant in Memphis, Tenn., which produces White Cloud bathroom tissue and White Cloud facial tissue; the $140 million Memorial Hospital expansion and renovation in Chattanooga, Tenn.; and the $216.8 million expansion of the Mercedes-Benz plant in Vance, Ala. However, some macroeconomic indicators point to a sluggish economy in this region, with the unemployment rate for Alabama, Kentucky, Mississippi and Tennessee a half-point over the U.S. national rate, and construction employment down. On the bright side, housing permits are showing some solid growth over last year, with single-family permits up 10%, multi-family starts up a whopping 153%, and total permits up 34%. Showing some of the strongest housing potential are Memphis, with single-family building permits up 39% YTY to 1,470 through August, and Nashville, Tenn., up 27% to 3,600 over the same time period.

East South Central : Electrical Wholesalers'Sales
(in millions of dollars)

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