Anchorage's economy poised for a turnaround
Anchorage's recession may be coming to an end soon, according to the latest numbers forecasted by the Anchorage Economic Development Council AEDC.
It released its latest findings for the next three years at a luncheon in Anchorage Wednesday.
"We think the recession is probably going to start to peter out toward the end of this year, no later than maybe first quarter," said Bill Popp, president of AEDC. "The job number losses are coming down pretty rapidly and we're starting to see some positive signs."
Popp joined Daybreak Wednesday morning to explain some of the preliminary numbers found in the latest report.
"The housing market in Anchorage stays relatively steady and has been since the beginning of the recession," Popp added. "We have seen sales stay up; not super robust, but not bad, and we have seen prices stay steady. The foreclosure rate is extremely low, very, very low."
The bankruptcy rate is also at record lows; Popp said that shows good strength and resiliency in the overall economy.
Other brights spots in the report include an increase in tourism, air cargo and consumer confidence.
"[consumer optimism] went up to 57, which is a 4-point increase and that is the highest the index has been since 2015," Popp added. "So that makes us feel pretty good about where consumers are at."
People also scored high as to how they are feeling about their personal financial situation.
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