Economic Forecast Luncheon Oct. 20Oct. 17, 2005
The United States economy has rebounded nicely from the recession caused by the terrorist attacks of 9-11-01. Total production of goods and services has grown at a very health 4.1% annual rate since the beginning of 2003.
The Texas economy is also growing despite being hit harder than the national economy by 9-11-01 fallout. Total employment in Texas fell for three consecutive years in 2001-2003, but it has grown at a 1.5% annual rate since December 2003.
As the US and Texas have gone, so has gone Waco. The Waco economy lost 500 jobs between 2000 and 2003. It added 1,600 jobs in 2004, however, and those increases appear to be holding steady this year.
Despite this good economic news, the outlook for the US, Texas, and Waco economies in 2006 is uncertain. Crude-oil prices have risen to all-time highs and so no signs of returning to moderate levels anytime soon. Will the higher energy prices slow down the national economy or perhaps even create a recession? What will be their impact on Texas and Waco?
The Texas legislature has adjourned from its most recent special session having failed in attempts to restructure the state's tax code. How is the state's tax structure likely to change in coming months and years, and how will that affect the Texas and Waco economies?
Finally, how do all of these questions relate to the proper investment strategies for individuals to pursue as they save for retirement or other purposes?
These questions and more will be addressed at the 2006 Annual Economic Forecast Luncheon co-sponsored by the Greater Waco Chamber of Commerce and the Baylor University Hankamer School of Business. The Conference will feature leading experts on investment markets and the US and Central Texas economies.
Speakers will include Ray Perryman, Tom Kelly and Steve Drake, host of the Money Matters talk radio show in Houston.
For more information, visit www.baylor.edu/business/forecast or call Susan Armstrong at 254-710-6177.