The state’s expected economic output and increase in job growth for 2021 should offset the loses of 2020. But there is a caveat, said Kyle Anderson, clinical assistant professor of business economics at the Indiana University Kelley School of Business. December 2021 will look a lot like December of 2019.
“We will have recovered,” he said, “but we will have missed out on two years of growth.”
Anderson was speaking Tuesday during the Kelley School’s 2021 Business Outlook forecast. The forecast has been presented virtually for audiences in Indianapolis and Bloomington. Presentations for other areas of the state are scheduled for later this month.
The Bloomington Rotary Club and the Greater Bloomington Chamber of Commerce sponsored Tuesday’s presentation. Panelists touched on global, national, state and local economic forecasts, as well as financial markets.
Anderson said Indiana’s outlook reflects that of the nation. He described it as a pro-cyclical economy, meaning when the national economy is good, Indiana’s economy is usually a little better than average, and when the national economy is down, the state typically does worse than average.
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