North Carolina's economy is recovering, but not at the rate that the state has become accustomed to following previous economic downturns.
That was one of the key points made by John Silvia, chief economist for Wells Fargo in Charlotte, during a conference call with reporters today.
Silvia and another Wells Fargo economist, Michael Brown, discussed North Carolina's recent economic performance and the outlook for 2012 and beyond.
"Yes, we have forward momentum, but just not at the pace we're used to and that we've become accustomed to," Silvia said.
Among the problems facing the state is that while economic output is growing, that increased output is not creating the same number of jobs that it has in the past. That is particularly the case in sectors such as manufacturing.
Silvia and Brown looked at the state economy as well as data from the metro areas of Charlotte, Raleigh, Greensboro and Asheville.
The Triangle is "improving far faster than any of the other metro areas across the state," Brown said.