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Futurecast provides insight into 2024 economy

Oct 24, 2023
Futurecast logo
Futurecast logo

KOKOMO, Ind. — What can you expect from the economy in 2024?

Get an inside look by attending the Futurecast 2024 economic outlook tour, presented by the Indiana University Kelley School of Business. IU Kokomo hosts the tour at 7:30 a.m. Tuesday, November 14 in the Kelley Student Center Room 130.

The event is free, but preregistration is required by November 3. Seating is limited. Register here.

Kelley School faculty will be joined by community and business leaders to discuss how the forecast will impact our state economy in a national and global context. They will travel to 11 cities across Indiana throughout the month. The school has shared its expertise and economic forecasts for more than 50 years.

Panelists will provide their distinct insights on likely trends in gross domestic product growth, inflation, interest rates, employment, and industry trends, and will evaluate the most likely scenarios overall for businesses, and specific factors that may shape both the economy and financial markets next year.

They include Dmitriy Chulkov, professor of business analytics and economics at IU Kokomo; Hon. Tyler Moore, mayor of Kokomo; Chad Ham, associate professor of accounting; Timothy F. Slaper, Indiana Business Research Center research director; and Mark Frolich, associate professor of operations management.

Dean Govindarajalu will moderate the panel.

Futurecast 2024 also will feature discussion providing local context on factors affecting companies and their employees and retirees, according to Phil T. Powell, clinical associate professor of business economics and public policy at the Kelley School and executive director of the school’s Indiana Business Research Center.

“Our goal is to share, in person and with as many business and community leaders as possible, the likely effects of multiple headwinds facing us now and into the next year,” he said. “These include global wars and supply chain woes, domestic strikes and layoffs, inflation and interest rates combined with unexpected spikes and troughs in consumer behavior, and the increasing volume of investment throughout Indiana.”

The Kelley School has presented these forecasts around the state since 1972, based on research from its Indiana Business Research Center. The center has provided crucial economic information needed by many Indiana businesses, government, and nonprofit organizations since 1925. The forecast draws upon econometric models developed by the Center for Econometric Model Research and the insights of a select panel of Kelley faculty members.

Education is KEY at Indiana University Kokomo.

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