Ball State Economic Study Suggests Slowing Growth

Posted: Updated:
Hicks is the director of Ball State's Center for Business and Economic Research. Hicks is the director of Ball State's Center for Business and Economic Research.
MUNCIE -

A new report from Ball State University suggests the potential for slower economic growth in Indiana next year. During the 23rd annual Indiana Economic Outlook Luncheon in Muncie, Center for Business and Economic Research Director Mike Hicks predicted Indiana's economy would grow at a slightly slower pace in 2019 than the predicted national rate.

The report predicts 2.3 percent national Gross Domestic Product growth in 2019, down from 3 percent in 2018. In Indiana, it pegs growth at 2.1 percent, with the state adding about 20,000 jobs throughout the year.

Hicks believes this year's Tax Cuts and Jobs Act, current monetary policy and a growing trade war will combine to slow growth. Specifically, he says tax reform resulted in larger budget deficits, and he expects between two and four more rate increases from the Federal Reserve by the end of next year.

The prediction comes at a time when Hicks says the national economy is in its ninth consecutive year of expansion with labor markets performing strongly and wages having grown.

You can see the full report by clicking here.

  • Perspectives

    • Why HR Should Embrace AI

      With the increased introduction of artificial intelligence, many companies worry about its long-term effects. Although AI has been adopted by many industries, the common fear remains: Will AI eventually take over our jobs? Contrary to this belief, AI can be extremely beneficial in helping humans improve productivity at work,make their day-to-day tasks easier and allow more time for creative tasks only humans can perform. One department that can especially benefit from jumping on the...

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Fishers Among Finalists For National Prize

      The city of Fishers is one of 12 finalists for the Robert Wood Johnson Foundation Culture of Health Prize. The award honors "communities that are bringing partners together around a shared commitment to health, opportunity, and equity."

    • (photo courtesy of Howe Military Academy)

      Howe Military Academy to Close

      Howe Military Academy in LaGrange County has announced plans to close its doors after 135 years. In a letter posted on the academy's website, President Thomas Tate cited rising costs and declining in enrollment as reasons why the school will not reopen for the 2019-2020 academic year.

    • Greenwood CEO Named Small Business Person of the Year

      The chief executive officer of a Greenwood-based company has been named the 2019 Small Business Person of the Year for Indiana. U.S. Small Business Administrator Linda McMahon announced Monday this year's winners from all 50 states, the District of Columbia, Puerto Rico, and Guam. 

    • (photo courtesy of Subaru of Indiana Automotive)

      SIA Breaks Ground on Training Center

      Officials from Subaru of Indiana Automotive in Lafayette have broken ground on a new technical training center. The company says the 20,000-square-foot facility will double the size of its current training center. SIA did not say how much it is investing in the new facility. The technical training center will feature a simulated factor floor, up to six training robots, multiple assembly line simulators, classrooms, and a larger computer lab, among other amenities. 

    • Hanna believes crews could begin "turning dirt" in 2020.

      Hanna: South Shore Project Hits 'Major, Major Milestone'

      The president of the Northwest Indiana Regional Development Authority says the South Shore Line West Lake Corridor project will create a crucial "Hoosier gateway in Chicago." The more than $700 million project has received a positive project rating from the Federal Transit Administration, putting it a step closer to up to $440 million in federal funding. Bill Hanna says the rail extension will help Hoosier workers connect to jobs in Chicago that often pay more...