Jasper Rotarians and local business leaders gazed into the economic crystal ball this week.
The Jasper Rotary Club hosted the Indiana University Kelly School of Business Economic Forecast virtually on Thursday.
The I.U. Economic Professors made up a panel of speakers discussing global, national, and state forecasts for finance and business.
According to the panel, the world economy is expected to shrink by over 4-percent in 2020 before expanding to just over 5-percent in 2021.
China will be the only major economy to see positive growth for 2020. The U.S. may see a 3-percent growth.
Overall, Indiana should fair pretty well as the state is a leader in manufacturing growth. Indiana is relatively well-positioned to outperform during the recovery period as we emerge from the COVID-19 pandemic.
The panelists say we will see slow or even negative growth conditions during the last quarter of 2020 and the first quarter of 2021, but do see strong positive growth for the state in the 2nd half of 2021.
This growth could set 2022 up for a strong year of positive economic output for Indiana. They do not believe total lockdowns will be necessary, as we have more knowledge of how to combat the virus and a vaccine seems near.
The I.U. Economic Forecasters told Zoom attendees there will be winners and losers economically.
Consumer spending is recovering well, but tilted towards goods and away from services.
The Jasper Rotary Club hosts the I.U. Kelly School of Business Economic Forecast annually.
If you would like to watch the presentation, 18-WJTS-TV will air the economic forecast on Monday, November 23rd at 8pm EST and again on Wednesday, November 25th, at 1:30 pm EST.