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Economist: Ind. Economy Will Grow At 2.2% In ’14

Posted On December 04, 2013

By Mike Perleberg

 

(Undated) – Indiana’s economy may be poised to outperform the nation’s in 2014, according to a Ball State University economist.

 

Michael Hicks is the director at Ball State’s Center for Business and Economic Research. His Indiana Economic Outlook says Indiana’s economy will grow at almost 2.2 percent when adjusted for inflation next year.

 

He expects the southeast Indiana region to grow at 2.1 percent, which would be as good or better than the national economy is expected to perform. The U.S., he says, narrowly dodged a recession in 2013 as the European Union showed signs of growth.

 

“This will be the first postwar European recession that did not engulf the U.S.,” Hicks said.  “Still, the United States economy will continue to perform poorly through 2014, in virtually all areas. We estimate the inflation adjusted gross domestic product to grow at an annualized rate of 1.9 percent to 2.1 percent in each of the four quarters of 2014.”

 

In addition to the economic growth, southeast Indiana will see 120 new jobs, the outlook forecasts.

 

Indiana’s projected growth will be on the strength of the durable manufacturing recovery. Non-durable goods production is expected to remain flat.

 

Hicks will provide more insight on the 2014 Indiana Economic Outlook at a series of upcoming meetings across the state. One will take place at Hillcrest Golf & Country Club, 850 N. Walnut St., in Batesville on Wednesday, December 11 at 5:30 p.m.