PNC Forecasts Strong 2013 For Pittsburgh Region

Locator map of the Greater Pittsburgh metro ar...

Locator map of the Greater Pittsburgh metro area in the western part of the of . Red denotes the Pittsburgh Metropolitan Statistical Area, and yellow denotes the New Castle Micropolitan Statistical Area, which is included in the Pittsburgh-New Castle CSA. (Photo credit: Wikipedia)

The Pittsburgh regional economy, which snapped back from the recession early but stalled in 2012, is poised to head higher again this year, according to forecasters at PNC Financial Services Group.

A reviving national economy will provide the oomph needed to reignite growth locally, PNC economist Kurt Rankin said in an interview.

The Pittsburgh region experienced above average growth in the first two years of the economic recovery in 2010 and 2011, but hit a lull the middle of last year.

Pittsburghers were more willing to spend coming out of the recession than consumers in many other regions because the local economy did not fall as far, but that willingness has been fully tapped, Mr. Rankin said.

Read more: http://www.post-gazette.com/stories/business/news/pnc-forecasts-strong-2013-for-pittsburgh-region-679225/#ixzz2NYkffzC6