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GSU says area economy ‘strong’

Georgia Southern University’s latest Economic Monitor, which reflects Q3 2021, reports that the Savannah metro area economy, which includes Bryan County, continued to roar back for the fourth consecutive quarter.

“Nearly all major indicators of regional economic activity increased during the third quarter,” stated Michael Toma, Ph.D., Georgia Southern’s Fuller E. Callaway Professor of Economics. “Tourism indicators led metro growth and skyrocketed for the second consecutive quarter.”

Among the highlights of the third quarter report: The business index for the Savannah metro economy has fully recovered from the pandemic-induced plunge. The quarterly increase was 4.3%, up from last quarter’s 16% annualized growth. The index of current activity increased to 199.2 from 190.9. For the second consecutive quarter, tourism lifted the index as hotel room sales (+24%) and airplane boardings (+19%) registered massive one-quarter growth.

The Savannah area business forecasting index increased 1.3% in the third quarter. The leading index jumped to 159.3 from 157.3 in the previous quarter. The gain primarily reflects improving labor market and consumer confidence.

The index is expected to surge in the fourth quarter as labor market and housing market gains become more firmly entrenched in the calculation of the index. Thus, near-term prospects for growth in the Savannah metro economy are favorable.

 The Economic Monitor is available by email and at the Center’s website parker. big-programs/cbaer/ To receive the Monitor by email, send a ‘subscribe’ message to

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