IU Kelley Presents ‘Somber’ Forecast
(photo courtesy Indiana University)
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowThe Indiana University Kelley School of Business says there is "little reason for any real optimism" for significant economic growth nationally in 2017. However, Kelley’s annual economic forecast suggests Indiana stands to benefit over the next several years from "developing a more diversified manufacturing base."
Nationally, IU Kelley School economists are predicting output growth next year to only average slightly above 2 percent. The panel cites slowing job creation as the labor market reaches full employment. Associate professor emeritus of economics Bill Witte says most economic indicators are "lackluster or worse," calling the lack of balance "troubling for the present and unsustainable for the future."
Indiana Business Research Center Research Director Tim Slaper says the outlook for Indiana is slightly better, expecting the state to close out 2016 with "real economic growth of 3 percent, compared to between 1.6 and 2 percent nationwide."
A challenging trend continues in the state, however. Clinical assistant professor of business economics Kyle Anderson says urban economies, like the Indianapolis-Carmel metropolitan area, see growth while rural economies continue to struggle.
The Kelley panel began its economic outlook tour this morning in Indianapolis, and will continue it today in Bloomington. It will present its national, state and local economic forecasts in eight cities throughout the state through November 18.
You can find more information about the economic outlook tour by clicking here.