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South Carolina economists say that while there is a potential for a mild recession next year, they expect the state to fare well because of its current strong economy.

“The big theme of 2023 is the recalibration of the U.S. and South Carolina economy,” said Joseph Von Nessen, Research Economist at the Darla Moore School of Business at USC. “We’ve seen an economy that’s been very unbalanced this year. Demand has been far outpacing supply, and that’s because consumer spending has been high due to a rapidly recovering labor market that we’ve seen over the past two years where people have gone back to work and earned wages.”

CP OPINION: S.C. Dems get lifeline from Biden with 1st presidential primary

“President Joe Biden has thrown the South Carolina Democratic Party a long, huge lifeline by pushing national Democrats to move the first 2024 presidential primary here. Gone as the first national battleground would be the lily-white caucus in Iowa, while the lily-white New Hampshire primary faces a demotion but will still be early.”

In other recent news:

Patriots Point to honor lives lost in 1941 Pearl Harbor attack. There will be a ceremony today, 81 years after the attack that pulled the U.S. into World War Two.

Cost of extending Interstate 526: $2.2 billion. The burden of the cost, $1.78 billion, would fall on Charleston County taxpayers. The cost has gone down slightly — about $150 million — but the total cost might cause the county to float a half-cent sales tax increase by voters.

Charleston city council votes to hike taxes, boost employee pay. Council voted to approve a $287 million budget that would hike taxes about $60 on an owner-occupied home worth $500,000. The plan would give raises to all city employees.

Japanese company to build $810 million battery plant in S.C.  The company didn’t say when the plant would open, but said it would spend $810 million in Florence County on a facility that would hire about 1,200 workers. Meanwhile, the state is poised to spend $226 million in incentives to get Berkeley Co. battery recycler.

Warnock beats Walker by 100K votes in Georgia Senate battle. U.S. Sen. Raphael Warnock, D-Georgia, captured his first full term in the U.S. Senate by beating back a runoff challenge by Georgia football star Herschel Walker. Out of more than 3.5 million votes cast, Warnock captured 51.4 percent, according to preliminary numbers.

Clyburn “surprised” by Biden plan to make S.C. first primary state. U.S. Rep. Jim Clyburn, a senior Democrat who represents part of Charleston, says he was a bit surprised to learn that President Biden wanted to make South Carolina as the first Democratic presidential primary state.

De Haas blends conservation, preservation. A profile of Rou de Haas, a Charleston resident from South Africa who has blended his interests of conservation and preservation. He also owns a safari company.

S.C. helps effort to bring back rare peach. Read how South Carolinians are helping to bring back the lemon cling peach and other heirloom foods.

Covid update: More than 6,000 new cases in S.C. State health officials reported 6,046 new cases of Covid-19 in the week starting Nov. 27 — 3,086 more cases than the previous week. For the week ending Dec. 3, state officials reported 5 people died from Covid-19.

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