                            THE VIRGINIAN-PILOT  
              Copyright (c) 1996, Landmark Communications, Inc.

DATE: Monday, January 22, 1996               TAG: 9601190721
SECTION: BUSINESS WEEKLY          PAGE: 20   EDITION: FINAL 
SERIES: Forecast 1996 
                                             LENGTH: Short :   44 lines

FORECAST 1996: MANUFACTURING

[The following appeared as a side bar]

Let's back up to the start of 1995 and take in the big picture a year ago.

Interest rates had climbed, and the verdict from the federal base closing commission was still out. The future looked volatile: Employment might rise, but the Hampton Roads economy might melt down if the base closure commission was unkind to the area's huge military installations.

But the jitters were unnecessary.

The commission spared Hampton Roads, major corporations opened local centers and the economy bounced and jolted along. The outcome wasn't great, but we survived.

This year may not be as exciting as 1995, but it shouldn't be so tense either. So far, the national economy appears neither strong nor weak, and the base closing commission is long gone. The stability looks comforting. ILLUSTRATION: Color staff illustration by John Corbitt\The Virginian-Pilot

Graphics

Old Dominion University's Economic Forecast for the United States

Projected comparison of economic indicators

6-month TreAsury Bill Rate

30-year FHA Rate (National)

for copy of graphic, see microfilm

Old Dominion University's Economic Forecast for Hampton Roads<

Civilian employment

Taxable Sales (retail sales)

Hotel room revenues

General cargo tonnage

For copy of graphic, see microfilm

by CNB