The Economy?

How will the economy treat us this year? Economists at Economy.com say it will be a 3 percent growth year, which is not too bad. The economy is gaining some strength, despite weakening consumer spending. Most economists see the Iraqi conflict and the federal fiscal stimulus package as the Big Two Drivers at this stage. Resolution of the conflict and passage of the stimulus deal are seen as essential to jumpstarting growth in 2003. Business investment levels are expected to remain fairly low this year, which is not what economic developers want to hear, but that is the most likely scenario at this stage.

Is the economy treating men or women better at this point? A recent analysis by Economy.com says women are faring better. Men have lost 1.26 million jobs since the beginning of the recession, while women have lost only 363,000. While women account for about one-half of the labor force, they have endured only 22% of net job losses. Moreover, in the few industries that have actually grown, women’s gains have far outstripped men’s gains. Check out the story here . I think you will find it to be of interest.

Scenario-planning has returned to the business and economic strategy worlds. Check out the "what if's" discussed in WEFA's latest report. You can find a free summary at: www.wefa.com. This is a time for considering alternative futures. This is the message I will be giving at my January 13 keynote speech in Fort Wayne, Indiana. We will be posting the speech shortly after January 13 on our website at: www.don-iannone.com. Economic development organizations can use scenario planning to improve their view of the future. Give us a call and we will tell you how" 440-449-0753.