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UT economists forecast modest growth in 2013

Tennessee’s economy is moving forward, but progress remains painfully slow, according to a University of Tennessee report released today.

After “exceptionally strong rates of economic expansion” in the first quarter, the state economy slowed sharply in the second quarter as effects of the debt crisis in Europe rippled across the globe, says the fall 2012 Business and Economic Outlook.

However, UT economists see the state and national economies posting modest gains through the first half of 2013.

Significant economic improvement is still a year or two away, according to the study prepared by the university’s Center for Business and Economic Research.

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