IU Kelley School's Business Outlook Panel touring the state to provide economic forecast for 2012
Oct. 19, 2011
EDITORS: A schedule of the Business Outlook Panel's appearances is below. Arrangements have been made for electronic media covering the Indianapolis presentation. Media who wish to cover other panel events should check with local sponsors.
BLOOMINGTON, Ind. -- Last year, when economists at Indiana University and its Kelley School of Business put together their annual forecast, the outlook for 2011 was characterized as one of "great uncertainty." This assessment turned out to be on the mark, as the economy has had an exhilarating roller-coaster ride over the past year.
As they prepare their predictions about the national and state economies in 2012, the economists acknowledge that much uncertainty remains, though some encouraging signs are appearing on the horizon.
"Although millions of Americans remain unemployed, we see some indications that investment will pick up next year and that the economy will grow," noted Jerry Conover, director of the Indiana Business Research Center (IBRC) in the Kelley School. "But will jobs return quickly enough to propel consumer spending and home construction once again?"
In their 2012 forecast, Conover and other members of the Business Outlook Panel will assess how the changing economic environment will affect business and public policy decisions -- both in the United States and elsewhere.
For 38 years, the Kelley School of Business has presented its national, state and local forecasts through a series of presentations in cities across Indiana. Among the questions they plan to address this time around are: What are the chances of a double-dip recession? When will jobs start growing again at a healthy rate? How strong will economic growth be in the coming year -- both for the state and the nation? Can stimulus spending make much difference to our long-term growth prospects?
The Business Outlook Tour will begin with a presentation at 7:30 a.m. Nov. 3 in Indianapolis at the Columbia Club, 121 Monument Circle.
As in the past, this year's panel will feature faculty members from the Kelley School and IU, plus local panelists from other IU campuses and other universities, offering perspectives on the global, national and state economies and financial markets.
The starting point for the forecast is an econometric model of the United States, developed by IU's Center for Econometric Model Research, which employs 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 it has on the economic situation.
Philip L. Cochran
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. Phil Cochran, associate dean of the Kelley School for Indianapolis programs, will moderate the discussion and public question-answer session to follow.
This year's tour is sponsored by IU's Kelley School of Business, the IU Alumni Association, IU campuses and various community organizations.
To register for the Indianapolis presentation, contact the Kelley School of Business Office of Development and Alumni Relations at 812-855-6340 or go to its website at http://kelley.iu.edu/alumni/calendar/. The cost is $30 for IU Alumni Association members and $35 for everyone else. A table for 10 people can be reserved for $325 and half tables are available for $170. Advance registration is encouraged and should be done by Oct. 27. Call 812-855-6340 after the deadline.
For questions about other panel presentations, contact the sponsoring local organization or the Indiana Business Research Center at 812-855-5507, or go to its website at http://www.ibrc.indiana.edu/.
Business Outlook Panel tour schedule:
(Host organizations and contact information are listed in parentheses)
- Nov. 3 -- Indianapolis, 7:30 a.m., Columbia Club (Kelley School of Business Alumni Association and the Central Indiana Chapter of the IU Alumni Association), 812-855-6340, http://kelley.iu.edu/alumni/calendar/.
- Nov. 3 -- Bloomington, 11:25 a.m., Indiana Memorial Union Alumni Hall, 900 E. Seventh St. The cost is $16 for chamber members and $25 for the general public. (Bloomington North Rotary and Greater Bloomington Chamber of Commerce), 812-336-6381, http://www.chamberbloomington.org/cwt/External/WCPages/WCEvents/EventDetail.aspx?EventID=156.
- Nov. 4 -- Columbus, 7:30 a.m., Columbus Learning Center, 4555 Central Ave., $15 for chamber members and $25 for non-members. (Columbus Area Chamber of Commerce and Indiana University-Purdue University Columbus), register at http://www.columbusareachamber.com/, 812-378-7300.
- Nov. 9 -- Fort Wayne, 11:30 a.m., Walb Student Ballroom at Indiana University-Purdue University Fort Wayne, 2101 E. Coliseum Blvd., $30 a person or $225 for a table of eight, (IPFW Alumni Association and IU Alumni Chapter of Northeast Indiana), 260-490-1374 ext. 2864 or Eric.Steenman@lakecitybank.com.
- Nov. 11 -- South Bend, 7:30 a.m., Wiekamp Hall, IU South Bend, free of charge, (Teachers' Credit Union and IU South Bend School of Business and Economics), Robert Ducoffe, 574-520-4228, firstname.lastname@example.org
- Nov. 11 -- Schererville, 11:30 a.m., Teibles Restaurant, 1775 Route 41, $20 (Lake County Advancement Committee and Calument College of St. Joseph), contact: Caitlin Mills-Groninger, 219-473-4325 or email@example.com.
- Nov. 15 -- Richmond, 11:30 a.m., Lingle Grand Hall, Reid Hospital & Health Care Services, 1100 Reid Parkway, $15 (IU East Alumni Association, Eastern Indiana Chapter of the IU Alumni Association and Reid Hospital and Health Care Services), contact Terry Wiesehan, 765-973-8221 or firstname.lastname@example.org.
- Nov. 16 -- Terre Haute, 7 a.m., Holiday Inn, 3300 S. U.S. 41, $20 for members and $25 for the general public (Terre Haute Chamber of Commerce), 812-232-2391, http://www.terrehautechamber.com.
- Nov. 17 -- New Albany, 7 a.m., Hoosier Room, IU Southeast, $25 per person or $175 for a table of eight (IU Southeast School of Business and First Harrison Bank), register at http://www.ius.edu/Business/ or contact Cheryl Young, 812-941-2325 or email@example.com.
- Nov. 21 -- Kokomo, 10:30 a.m., Kelley Center, IU Kokomo, free of charge (IU Kokomo)
- Nov. 29 -- Anderson, 11:30 a.m., Anderson Country Club, 602 North Shore Blvd., $15 (Anderson Rotary Club), Janet Brewer, 765-641-4272, firstname.lastname@example.org.