The consensus of the group was that the economy is slowing down. They predict the U.S. economy will grow at about 2 percent and growth in employment will decelerate. Contributing factors are the slowdown in China’s economy and the ongoing trade dispute between the United States and China. Indiana’s economic output is predicted to grow at a rate of about 1.25 percent with job creation decelerating, mostly due to a decline in manufacturing. Elkhart County will feel the decline as shipments of RVs continue to decline in the coming year. Half of all the RVs made in the U.S. and manufactured in Elkhart County.
The South Bend - Mishawaka economy relies more on service industry segments and is expected to see modest job growth in 2020.
The panelists were Ellie Mafi-Kreft, clinical associate professor of business economics and public policy at the Kelly School; Charles Trzcinka, the James and Virginia Cozad chair of finance at the Kelly School; John Waters, clinical associate professor in accounting at the Kelly School; and, Hong Zhuang, director of the Bureau of Business and Economic Research at IU South Bend where she is an associate professor of economics at the Leighton School. The event was sponsored by Teachers Credit Union.
