LISTEN: The Savannah Area Chamber of Commerce held its annual economic outlook conference this week, where forecasters shared their vision for the new year. GPB's Benjamin Payne reports.

Georgia Southern University economics professor Michael Toma speaks at the Savannah Convention Center on Wednesday, Jan. 8.

Georgia Southern University economics professor Michael Toma speaks at the Savannah Convention Center on Wednesday, Jan. 8.

Credit: Benjamin Payne / GPB News

Georgia's economy will likely see slower but continued growth in 2025, according to forecasters at the Savannah Area Chamber of Commerce's annual outlook meeting.

University of Georgia Terry College of Business dean Ben Ayers told attendees Wednesday that although employment gains will moderate compared to last year, they should still outpace the national average.

"Most sectors in our state will continue to hire," Ayers said, with homebuilding and health care leading the way due to expected interest rate cuts from the Federal Reserve and growing demand for telemedicine.

Although Ayers estimates a 25% chance of recession in 2025 — slightly above historical norms — those odds are lower than last year's, when a 33% chance was forecast.

The Savannah area's prospects appear even brighter than the state's, thanks to the region's expanding manufacturing and logistics sectors, according to Georgia Southern University economist Michael Toma.

"While the U.S. economy may be shedding manufacturing jobs, that's not happening here — it's not happening here at all," Toma said, referring to continued development around Hyundai's electric vehicle factory in Bryan County. "This will be fun to watch and see."

Tags: economic development  Savannah  Georgia