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Economy to pick up in 2nd half of '14, forecasters say

Expect the economic recovery to continue in 2014, picking up speed in the second half of the year for 2.5 percent growth in real gross domestic product.

That’s the forecast three experts with Indiana University’s Kelley School of Business offered today during the 2014 Business Outlook tour stop at Ceruti’s Summit Park. About 65 attended the lunch.

Timothy Slaper, director of economic analysis for the Indiana Business Research Center at IU in Bloomington, looked at the national and international economic pictures. Chuck Trzcinka, finance professor, tackled the stock market. And Jerry Conover, director of the Indiana Business Research Center, delivered an Indiana-centric forecast.

They were joined by Ellen Cutter, director of IPFW’s Community Research Institute, who spoke about local issues.

Eric Steenman, a vice president at Lake City Bank, is a local commercial lender. His experience mirrors the slow growth the economists spoke of. Steenman’s clients still aren’t taking big financial risks.

“But they’re doing things they need to do a little bit sooner than they did in previous years,” he said.

The event was sponsored by the Northeast Indiana Chapter of the IU Alumni Association and the IPFW Alumni Association.

For more on this story, see Thursday’s print edition of The Journal Gazette or visit after 3 a.m. Thursday.