R/ECON’s economic forecast for New Jersey as of mid-2025 continues to show a slowing trajectory. Annual GDP growth is projected at just 0.5% for 2025, significantly lower than prior forecasts and markedly below the national rate of 1.5%. The Garden State’s real estate market shows tentative signs of stabilization, though persistently elevated mortgage rates and high home prices continue to limit the strength of the rebound. Nationally, tariff increases are expected to put upward pressure on prices, with inflation projected to reach 3.7% in the second quarter of 2026.
Topic
GDP
Rutgers Regional Report: New Jersey economy will suffer significant, long-term damage without Hurricane Sandy restoration funding
A new Rutgers Regional Report, “The Economic and Fiscal Impact of Hurricane Sandy in New Jersey,” authored by Rutgers University economist Nancy Mantell, director of the Rutgers Economic Advisory Service (R/ECON); Joseph J. Seneca, university professor and economist...