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    U.S. and Kansas Economic Forecasts for 1993: Midyear Update

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    Issue Date
    1993-07
    Author
    Clifford, Norman
    Publisher
    Institute for Public Policy and Business Research, University of Kansas
    Type
    Technical Report
    Is part of series
    Technical Report;208
    Published Version
    https://ipsr.ku.edu
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    Abstract
    The national economy will continue to recover in 1993 and 1994, but at a rate that is disappointing by historical standards for recoveries. The burst of growth at well above the long-run average that we are accustomed to seeing early on in a recovery has not occurred so far during this recovery, and there is no such burst present in our economic forecast for 1993 and 1994. On the contrary, so far the economy has not sustained growth that is even nearly equal to the long-run average, and our forecast suggests that the economy will continue to grow at a rate that is at least a percentage point below the long-run average rate of growth for the next two years.

    The run during which the Kansas economy has outperformed the national economy appears to be over. Partly because of developments in the durable goods manufacturing sector, the Kansas economy appears headed for a slow-down in 1993 and 1994. Although nonfarm wage and salary employment will continue to grow, at 1.4 percent in 1993 and 1.1 percent in 1994, overall Kansas employment growth will not keep up with the growth of the labor force, and the state is expected to see a significant increase in its unemployment rate. Personal income growth will also be sluggish over the next two years, growing even more slowly than in the U.S. as a whole. Real personal income growth for the state over the next two years is expected to be only 1.1 percent per year.
    URI
    http://hdl.handle.net/1808/33130
    Collections
    • IPSR Published Works [305]
    Citation
    Norman Clifford. U.S. and Kansas Economic Forecasts for 1993: Midyear Update. Institute for Public Policy and Business Research, University of Kansas. Technical Report Series: 208 (July 1993; 54 pages).

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    Contact KU ScholarWorks
    785-864-8983
    KU Libraries
    1425 Jayhawk Blvd
    Lawrence, KS 66045
    785-864-8983

    KU Libraries
    1425 Jayhawk Blvd
    Lawrence, KS 66045
    Image Credits
     

     

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