2016 Economic Forecast: The Slow Ascent
Local Economist to Present at MBA’s December 9 Briefing Kenneth Louie, Ph.D., director of the Economic Research Institute of Erie (ERIE) and associate professor of Economics in the Black School of Business at Penn State Erie, the Behrend College, will present on the 2016 Economic Forecast during the Manufacturer & Business Association’s Eggs ‘n’ Issues briefing at 8 a.m. Wednesday, December 9, at the MBA Conference Center, 2171 West 38th Street in Erie. Dr. Louie received his B.A. in economics from Northwestern University and his M.S. and Ph.D. degrees in economics from the University of Illinois at Urbana-Champaign. Dr. Louie’s areas of specialization are: international trade and finance, the economics of labor markets, and the economy of China. He regularly teaches courses in International Trade and Finance, the Economics of Labor Markets, and Principles of Macroeconomics, and he has designed and taught a study abroad course on China in the Global Economy: History, Culture and Society. From 2001 to 2012, Dr. Louie served as program chair of International Business at Penn State Behrend.
For avid climbers, nothing compares to the breathtaking view from a mountain’s peak. Yet, the slow and steady climb to the top can be absolutely grueling, testing the skills of even the most experienced adventure seekers. Along with the altitude and elements, they must overcome any challenges with endurance and strength. In many ways, local economists say, this slow ascent is also one of the best ways to describe the economic outlook for the United States — and its modest projected growth in 2016. Back in July, the U.S. Federal Reserve projected a 2016 growth rate for U.S. real GDP of between 2.4 percent and 2.7 percent. Yet, some other research institutions and prominent economic forecasters seem to be expecting growth rates for the coming year that are marginally higher.
Dr. Louie has been a Fulbright Scholar to China and a visiting professor at the Johns Hopkins-Nanjing Center for Chinese and American Studies in Nanjing, China. He has presented his research at regional, national, and international conferences and seminars in venues including China, France and the UK, and has published articles in professional journals including the International Journal of Finance and Economics, Managerial and Decision Economics, the Journal of Economic Behavior and Organization and the Pennsylvania Economic Review, among others.
The World Bank, as part of its global outlook summary, and Federal Reserve Bank of Philadelphia’s Survey of Professional Forecasters, the oldest quarterly survey of macroeconomic forecasts in the United States, expect U.S. real GDP to grow by 2.8 percent in 2016. Even a New York Times survey of a group of leading forecasters from economic consulting and financial firms, as well as universities, produced a consensus estimate of 2.8-percent growth in U.S. real GDP in the year leading up to the November 2016 election.
Dr. Louie is a recipient of the Council of Fellows Excellence in Teaching Award at Penn State Behrend and the Excellence in Teaching Award from the National Society of Leadership and Success.
“Barring any major shocks such as renewed turmoil in global financial markets, the U.S. economy is expected to lumber towards modestly higher levels of aggregate output, income and employment,” explains
For more information or to register, visit www.mbausa.org. 12 < www.mbabizmag.com < December 2015