November 5, 2015

Panel: Indiana's Economy Will Grow Slightly Faster In 2016

INDIANAPOLIS (AP) — Indiana University economists are projecting that Indiana's economy will grow at a slightly faster rate next year and into 2017.

Indiana has trailed the nation in gross domestic product growth during three of the past four years.

But the Kelley School of Business panel's annual economic forecast released Thursday projects that the state's GDP will grow at a slightly faster rate into 2017 thanks to Indiana's status as a manufacturer.

Indiana Business Research Center research director Timothy Slaper says strong demand for industrial machinery and automobiles could boost Indiana's economy next year.

Indiana's unemployment rate fell to an estimated 4.5 percent in September. But Slaper says it's expected to continue dropping until it's significantly below the "go-go" times of July 2007, when it fell to 4.5 percent.

Support independent journalism today. You rely on WFYI to stay informed, and we depend on you to make our work possible. Donate to power our nonprofit reporting today. Give now.

 

Related News

Economic Enhancement District for Mile Square will not be repealed
Bill effectively killing Indianapolis Blue Line gets hearing in House committee
Senate adds no turn on red language to bill prohibiting dedicated lanes