Kelley School Announces Business Outlook Tour

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Economists at Indiana University's Kelley School of Business have announced dates for their annual Business Outlook Tour. The sessions, which focus on what is potentially ahead for the state and national economies, will begin early next month in Indianapolis and wrap up roughly two weeks later in Richmond. October 7, 2013

News Release

BLOOMINGTON, Ind. -- Five years after the financial crisis sent the U.S. economy into a tailspin, the nation's recovery from recession is still tentative and concerns about fiscal leadership remain in light of the federal government shutdown. In their annual forecast tour of the state, economists at Indiana University's Kelley School of Business will report what lies in store for Indiana and the nation as Hoosiers look ahead to 2014.

The Kelley School's Business Outlook Tour begins with a presentation at 7:30 a.m. Wednesday, Nov. 6, in Indianapolis at the Columbia Club, 121 Monument Circle. The panel also will make presentations in eight other cities across Indiana, including Fort Wayne, Schererville, Columbus and South Bend.

Jerry Conover, director of the Indiana Business Research Center at the Kelley School, said that despite some improvement in the state's manufacturing sector many Hoosiers -- including small-business owners -- remain cautious about opening their wallets for major purchases.

"Though growth has picked up recently, the economy is still far weaker than we'd like to see," Conover said. "Unemployment persists at uncomfortably high levels, and Congress has yet to agree on policies that would reassure businesses, investors and the public. While Indiana's economy shows many signs of strength, our state is also vulnerable to unstable economic winds."

Since 1972, the Kelley School of Business has presented its national, state and local forecasts through a series of presentations in cities throughout Indiana.

The starting point for the forecast is an econometric model of the United States, developed by IU's Center for Econometric Model Research, involving hundreds of statistical equations to develop a national forecast for the coming year. A similar econometric model of Indiana provides a corresponding forecast for the state's economy, based on the national forecast and data specific to Indiana.

The Business Outlook panel then adjusts the forecasts to reflect additional insights the panelists have on the economic situation. The IBRC also produces the Leading Index for Indiana each month, providing a preview of potential change in the general direction of the Indiana economy.

At each presentation, the panel features faculty members from the Kelley School and IU, plus local panelists from other IU campuses and other universities, offering perspectives on the global, national, state and local economies and financial markets.

In addition to taking questions from the audience at each tour stop, the panel also is inviting people to submit questions in advance through Twitter at @IUibrc. There also will be a live feed from the Indianapolis presentation available through Twitter accounts for the Kelley School of Business (@KelleySchool) and Kelley School of Business-Indianapolis (@KelleyIndy).

Appearing at the Indianapolis presentation will be Conover; Kyle J. Anderson, clinical assistant professor of business economics; Robert Neal, associate professor of finance; and Willard Witte, associate professor emeritus of economics and co-director of the Center for Econometric Model Research. Ken Carow, associate dean of the Kelley School-Indianapolis, will moderate the discussion and public question-and-answer session.

The tour is sponsored by IU's Kelley School of Business, the IU Alumni Association, IU campuses and numerous community organizations.

Business Outlook Tour schedule:

• Nov. 6 -- Indianapolis, 7:30 a.m., Columbia Club. Contact the Kelley School of Business Office of Development and Alumni Relations at 812-855-6340 or register online.

• Nov. 6 -- Bloomington, 11:30 a.m., Indiana Memorial Union Frangipani Room, 900 E. Seventh St. Cost to be announced later. (Bloomington North Rotary and Greater Bloomington Chamber of Commerce, 812-336-6381.)

• Nov. 7 -- Columbus, 7:30 a.m., Columbus Learning Center, 4555 Central Ave., $15. (Columbus Area Chamber of Commerce and Indiana University-Purdue University Columbus, 812-379-4457; register on the Columbus Chamber website.)

• Nov. 12 -- Anderson, 11:30 a.m., Anderson Country Club, 602 N. Shore Blvd., $15. (Anderson Rotary Club, Janet Brewer, 765-641-4272 or jlbrewer@anderson.edu.)

• Nov. 13 -- Fort Wayne, 11:30 a.m., Ceruiti's, 6601 Innovation Blvd., $25 (IU Alumni Chapter of Northeast Indiana, contact Eric Steenman, 260-490-1374 or eric.steenman@lakecitybank.com.)

• Nov. 15 -- South Bend, 7:30 a.m., Education and Arts Building, IU South Bend, free of charge but RSVP is required. (Teachers Credit Union and IU Judd Leighton School of Business and Economics, Robert Ducoffe, 574-520-4228 or rducoffe@iusb.edu.)

• Nov. 15 -- New Albany (a second panel), 7 a.m., Hoosier Room, IU (IU Southeast School of Business and First Harrison Bank, register on the School of Business website or contact Cheryl Young, 812-941-2325 or young24@ius.edu.)

• Nov. 15 -- Schererville, 11:30 a.m., Teibles Restaurant, 1775 Route 41, $20. (Lake County Advancement Committee and Calumet College of St. Joseph, contact Caitlin Mills-Groninger, 219-473-4325 or cmillsgroninger@ccsj.edu.)

• Nov. 18 -- Richmond, 11:30 a.m., Lingle Grand Hall, Reid Hospital & Health Care Services, 1100 Reid Parkway. (IU East Alumni Association, Whitewater Valley Chapter of the IU Alumni Association and Reid Hospital and Health Care Services, contact Terry Wiesehan, 765-973-8221 or twiesaha@iue.edu .)Source: Indiana University