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Last modified: Thursday, October 23, 2008

Kelley School's Business Outlook Panel to provide economic forecast for 2009

FOR IMMEDIATE RELEASE
Oct. 23, 2008

EDITORS: A schedule of the Business Outlook Panel's appearances is below. Arrangements have been made for electronic media covering the Indianapolis presentation.

BLOOMINGTON, Ind. -- 2008 was a "very tricky year" for economists to anticipate, and forecasters who will present the Indiana University Business Outlook Panel forecast acknowledge that 2009 "could be even more challenging."

"Every day, when you listen to the news, new factors come into the picture, driving the economy," said Jerry Conover, director of the Indiana Business Research Center in IU's Kelley School of Business. "Figuring out where it's headed is challenging -- housing markets, credit markets, employment changes -- when all of this will turn around is the biggest question on people's minds.

"We're expecting very attentive audiences this year as we go around the state, telling the story about what the economy holds for the year ahead," Conover added. "It's a more unpredictable environment today -- all the more reason to try to become as informed as possible."

For more than three decades, the Kelley School of Business has presented its national, state and local forecasts through a series of presentations in 10 Indiana cities. Its tour will begin with a 7:30 a.m. presentation Nov. 6 in Indianapolis at the Columbia Club, 121 Monument Circle.

As in the past, this year's panel will feature faculty members from the Kelley School and local panelists from other IU campuses and other universities, offering perspectives on the global, national and state economies and financial markets.

The starting point for the forecast is the Econometric Model of the United States, developed by IU's Center for Econometric Model Research, which analyzes numerous statistics to develop a national forecast for the coming year. The center's Econometric Model of Indiana provides a corresponding forecast of where the state's economy is headed. The Business Outlook Panel then adjusts the forecast to reflect additional insights it has on the economic situation.

Appearing at the Indianapolis presentation will be Conover; Robert Neal, associate professor of finance; Philip T. Powell, clinical associate professor of business economics and public policy and chair of the Evening M.B.A. Program; and Willard Witte, associate professor of economics and co-director of the Center for Econometric Model Research. Phil Cochran, associate dean of the Kelley School for Indianapolis programs, will moderate the discussion and public Q-and-A session to follow.

This year's tour is sponsored by IU's Kelley School of Business, the IU Alumni Association, IU campuses and various community organizations.

To register for the Indianapolis presentation, contact the Kelley School of Business Alumni Programs Office at 812-855-6340 or go to its Web site at http://kelley.iu.edu/alumni/calendar/. The cost is $30 for IU Alumni Association members and $35 for everyone else. A table for 10 people can be reserved for $325. Advance registration is encouraged and should be done by Oct. 31. Call 812-855-6340 after the deadline.

For questions about other panel presentations, contact the sponsoring local organization or the Indiana Business Research Center at 812-855-5507 or go to its Web site at http://www.ibrc.indiana.edu/.

Business Outlook Panel tour schedule
(Host organizations and contact information are listed in parentheses)

Nov. 6 -- Indianapolis: 7:30 a.m., Columbia Club (Central Indiana chapters of the Kelley Alumni and IU Alumni associations, 812-855-6340, http://kelley.iu.edu/alumni/calendar/).

Nov. 6 -- Bloomington: 11:30 a.m., Indiana Memorial Union Alumni Hall, 900 E. Seventh St. The cost for Bloomington Chamber members and active Rotarians is $16. Others can register for $25. (Bloomington Rotary Club, Bloomington North Rotary Club, Bloomington Sunrise Rotary Club and the Greater Bloomington Chamber of Commerce, 812-336-6381 or awalker@chamberbloomington.org)

Nov. 7 - Columbus: 7:30 a.m., The Columbus Learning Center, 4555 Central Ave., $15 for chamber members and $25 for non-members, register online at www.columbusareachamber.com (Columbus Area Chamber of Commerce and Indiana University Purdue University Columbus, 812-379-4457, klatham@columbusareachamber.com).

Nov. 10 -- Richmond: 7:30 a.m., Vivian Auditorium, IU East Whitewater Hall, 2325 Chester Blvd., $15 (IU East Alumni Association and the Eastern Indiana Chapter of the IU Alumni Association, 765-973-8221 or twiesaha@indiana.edu).

Nov. 11 -- Anderson: 11:30 a.m., Anderson Country Club, 602 North Shore Blvd., $15 (Anderson Chamber of Commerce, 765-642-0264, andersonchamber@ameritech.net).

Nov. 12 -- Kokomo: 7:30 a.m., Kelley Center, IU Kokomo, $12 (IU Kokomo School of Business, 765-455-9275).

Nov. 12 -- Fort Wayne: 11:30 a.m., Walb Student Union Ballroom, 2101 E. Coliseum Blvd., Indiana University Purdue University Fort Wayne, $30 or $300 for tables of 10 (IU Alumni Chapter of Northeast Indiana and Richard Doermer School of Business and Management Sciences, 260-490-1374, ext. 2864, eric.steenman@lakecitybank.com).

Nov. 13 -- South Bend: 7:30 a.m., Hilton Garden Inn at St. Mary's College, 53995 Indiana State Road 933, $15, $10 for students. Corporate tables of eight are $105. Register online at http://www.gotoworkone.com (Northern Indiana Workforce Board Inc. and Teachers Credit Union, 574-239-2380, ext. 234, bwhite@wdgusa.com).

Nov. 14 -- Schererville: 11:30 a.m., Teibles Restaurant, 1775 Route 41, $20 (Lake County Advancement Committee, 219-473-4325, gmanson@ccsj.edu).

Nov. 18 -- New Albany: 7 a.m., Hoosier Room, IU Southeast, $25 or $175 for a table of eight (IU Southeast School of Business and First Harrison Bank, 812-941-2325, young24@ius.edu and http://www.ius.edu/Business/).