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The Charleston area shouldn’t be too concerned if the national economy takes a dip, said an economist and banking executive during a World Trade Center Charleston luncheon on Wednesday.
The local economy already outshines the rest of the U.S. in many ways, including GDP and job growth, said K.C. Conway, senior vice president for credit risk management for SunTrust Banks Inc. That will help sustain the region if national GDP takes a slide, he said.
The nation is poised to experience a “minor recession” in the second quarter if Conway’s prediction of negative national GDP in the fourth quarter of 2016 and the first quarter of 2017 holds true.
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