First Merchants Bank presented the 2019 Economic Forecast with Michael J. Hicks, PhD who is the Director of the Center for Business and Economic Research and George & Frances Ball Distinguished Professor of Economics, Miller College of Business, Ball State University.
Key takeaways for Ohio in 2019: “Leading economic indicators for Ohio paint a stable picture, with a recovery in the LEI (Leading Economic Indicators) in the second half of 2018, capping a better year than forecasted last year.” And…”Ohio’s economy is best characterized as stable and growing, with perhaps a better 2018 performance than anticipated in 2017.”
Key takeaways for the Greater Columbus area: “The Columbus, Ohio Metropolitan Statistical Area remains one of the more vibrant and growing urban and suburban places in the Midwest.”
Selected Quotes from Summary: “The United States economy is in its ninth year of expansion, with labor markets performing strongly. The unemployment rate is now beneath all common estimates of full employment, and wages have growth over the year a near full percentage point above the traditional consumer measures of inflation.” And…”Columbus remains a pocket of astonishingly robust economic performance in the Midwest. Growth in housing values, relative wage premium for education and the composition of employment growth are more like rapidly growing coastal and Sunbelt metropolitan places than small and mid-sized urban places in the Midwest.”