The economic outlook presented in this paper is for the three-quarter period from January to September 2008. In terms of fiscal years this period is the second half of FY 2008 and the first quarter of FY 2009. The economic outlook is identical to the one the Consensus Forecasting Group used in arriving at their forecast this month. The dominance of the goods-producing sector in the state economy is expected to be responsible for slow growth in Kentucky. During the final two quarters of FY 2008 personal income is estimated to increase by 4.1% compared to a 4.3% increase nationally. Income from wages and salaries is expected to grow even slower due to the poor outlook for the traditionally high-wage manufacturing sector. Employment in goods-producing industries has declined dramatically i...
... robust, but risks still remain. THE massive economic slump seen in the winter of 2008/2009 was followed by what was in part a very strong rebound in the world economy that has persisted to date. Global output rose by 4.1% last year, having tumbled 2.1% in 2009. However, the scale of the recovery varied widely among the individual countries and regions. Growth in the emerging markets was particularly dynamic, above all in Asia where industrial production is now a good 46% up on its 2007 level. The industrial countries, in contrast, have still not made up the production losses caused by the crisis.
Hurricane Katrina's devastating hit Aug 29, 2005 brought a sharp drop in economic activity, and destroyed a significant portion of the Coast's capital stock. However, it will also generate unprecedented construction activity on the coast as billions of dollars worth of housing, commercial property and infrastructure are replaced and repaired. As 2005 draws to a close, recovery efforts are focused on debris removal and clean up, provision of assistance and services to Coast residents, resolution of insurance claims, and reconstruction planning. Federal funds and insurance payments, in addition to private and local government spending, are financing the recovery, which is expected to cost over $20 billion. Employment figures show a 4.9% drop in payroll employment in Mississippi between Au...
WASHINGTON - The world economy has entered a "dangerous new phase," according to the chief economist of the International Monetary Fund. As a result, the international lending organization has sharply downgraded its economic outlook for the United States and Europe through the end of next year. The IMF expects the U.S. economy to grow just 1.5 percent this year and 1.8 percent in 2012. That's down from its June forecast of 2.5 percent in 2011 and 2.7 percent next year.
As Black Friday approaches, interest in buying personal electronics is less than a year ago. YONKERS, N.Y., Nov. 9, 2010 /PRNewswire-USNewswire/ -- Americans continue to see some real improvements in their economic outlook, financial difficulties and stress levels have declined and the employment numbers have climbed back into positive territory, according to the Consumer Reports Index for November.
Real gross domestic product (GDP) grew at a solid pace throughout the first three quarters of 2005. Growth ranged from 3.3%-4.1% in each quarter. This unusually stable growth has existed since the fourth quarter of 2003. In 2004, the forecasters were anticipating that the economy in 2005 would grow near potential. The economy performed slightly better than the consensus expected. According to the consensus group, real GDP is expected to have increased in 2005 by 3.6% and then rise in 2006 by 3.2%, a rate in line with what the group regards as potential. With growth at potential, the unemployment rate is forecasted to remain unchanged at 5.0% each quarter during 2006. The year 2005 proved to be a healthy one for the economy with strong gains in GDP, employment, and housing. However, oil ...
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