Moreover, the improvement has been broadbased, across both demand components and countries. There is a slight positive bias for the eurozone and especially china, where we expect 6. Compared to its peak in 4th quarter 2007, gdp is only about 12 percent higher while the number of employed is only 3. Noted economist robert reich discussed the global and national context for alaska s economy in a keynote address at aedcs 25thanniversary luncheon on wednesday. The most critical indicator is the gross domestic product, which measures the nations production output. Northern and eastern regions lagging rest of united states 19 us outlook december 2014 south atlantic east north central pacific midatlantic. January 2017 trends alaska department of labor and. With contributions from economists, business leaders, policy makers and everyday alaskans, alaskanomics aims to engage readers in an ongoing conversation about our economy, now and in the future. Economic outlook for 2016 berkshire money management. Nevertheless, the fiscal year fy 2016 state capital budget is half a billion dollars below fy 2015 and statewide agency operations spending will dip 4 percent.
Williams, president and ceo, federal reserve bank of san francisco for delivery on august 18, 2016. The gdp growth rate is expected to remain between the 2% to 3% ideal range. Unit 01 low and fragile global growth, dependent on developments in china 02 despite a rocky start to 2016, underlying fundamentals are indicative of moderate economic growth in the u. Online versions are available from 1978 to present. Economy continues to improve the us economy continues to improve due to business investment, consumer confidence, employment and real wages. Forecasts for both the eurozone and us have been revised down since the last outlook. Alaska economic trends is funded by the alaska employment service and published by the alaska department of labor, research and analysis section, p. While job growth was solid in 2015, growth started tapering late in the year and by early 2016, the expected decline in employment materialized. Atradius economic researcheconomic outlook november. This is the major risk to the domestic economic outlook in 2018 selective tariffs, nafta and key trading partners trump administration 1550% tariffs on solar, washing machine. Department of commerce, us office of travel and tourism industries. Activity in services, which until now had benefited from the recovery of private consumption in the major developed economies, is also starting to. Trends is a monthly publication with articles on alaska s economy, population, cost of living, occupations, industries, and more. Airline monitor, oxford economics, world economic outlook, airbusboeingembraer market outlooks, oecd, icf analysis 2016 data.
United states economic outlook 2nd quarter 2017 4 2. His core priorities during the presidential campaign focused on protectionism, reducing taxes, and deregulation. Economy the current economic recovery now into its 8thyear has been the slowest recovery in postwar history. Alaska economic trends is a monthly magazine that covers a broad range of economic issues. Williams, president and ceo, federal reserve bank of san francisco for delivery on august 18, 2016 longview. Unemployment is forecast to continue at the natural rate. Guettabi provides economic outlook at alaska economic summits. Each year we compile economic information that private and public organizations, local, state and federal agencies, lawmakers. United states economy overview economic overview of the united states despite facing challenges at the domestic level along with a rapidly transforming global landscape, the u. Atradius economic researcheconomic outlook may 2016. General contractors of alaska agc, proudly offer the 14th consecutive alaska construction spending forecast as a guideline to construction activity and its effect on the 49th state.
Southeast alaska 2020 economic plan southeast conference. The ceds development process began in september 2016, and ran through april 2017. Fiscal years 2007 to 2016 a the budgetary effects of hurricane relief 107 b changes to the budget outlook since august 2005 111 c how changes in economic assumptions can affect budget projections 119 d the treatment of federal receipts and expenditures in the national income and product accounts 125. The juneau economic development council is pleased to present the 2014 edition of the juneau and southeast alaska economic indicators and outlook report. Real federal govt spending declines in 2015 and 2016. The 2018 industry employment forecast for alaska, anchorage, fairbanks, and southeast alaska was published in the january 2018 issue of alaska economic trends. Sifma economic advisory rountable mid year 2016 economic outlook survey do you expect the fomc raise the fed funds target rate range at june 2016 meeting. Consumer spending will increase at a moderate pace, sustained by gains in employment, real incomes, and household net worth. Economic growth picking up in the second half november 2016. Despite the slower population growth recent state projections indicate fnsb should. An outlook survey to members of chambers and other.
Global growth consolidates but risks remain on balance, growth forecasts for 201718 are largely unchanged. Reports on the global economy often focus on the negative, pointing out potentially troubling items, including chinas growth slowdown, greeces debt, the euros future. The 2009 spillover recession from the great recession that hit the u. In june 2016, employment was down about 2,500 jobs compared to june 2015, according to preliminary alaska department of labor and workforce development adolwd estimates. Sifma economic advisory rountable mid year 2016 economic outlook survey. Past growth and future projections for alaskas industry sectors. Economic gains enough to further tighten labor market august 2016. A handful of industries likely to spur slight growth this year. Alaska economic trends are searchable from 1978 to the present using the trends search page. But the decline in inflation last year, as labor market conditions improved significantly, was a bit of a surprise.
Certain indicators temper positive economic outlook september 2016. Unemployment is forecast to continue below the natural rate. Visit our website to download an electronic version and. Housing construction will steadily recover in response to rising employment, easing credit, and a higher household formation rate. Outlook largely unchanged despite disappointing jobs report june 2016. Click here to sign up for a free electronic subscription. Investments in securities are not insured, protected or guaranteed and may result in loss of income andor principal. Presentation to the anchorage economic development. We forecast that trend will continue this year, but at a slower rate of 0. Us northeast program snapshot the 2016 economic outlook health check involves input from 2,158 respondents through 154 associations throughout the us and canada. Fairbanks its no secret alaska s economic outlook is icy. Alaska economic trends, january 2020 alaska department of labor. Alaska s economy faces significant headwinds in 2016, largely due to sustained low oil prices.
As of january 3rd, the gdpnow model forecast for real gdp growth, 4th quarter 2016 gdp is expected to be 2. Under a special arrangement with the institute of social and economic research iser at the university of alaska anchorage. The fomc sees the risks to the economic outlook as roughly balanced. Us economic growth will strengthen us consumers and businesses enter 2017 with rising optimism. There is nothing the state government can do that will rescue alaska from the. The cpa outlook index cpaoi is a broadbased indicator of the strength of u. Consumer spending is supported by solid gains in employment, real disposable income, and housing asset values. Northrim bank launched the alaskanomics blog to provide news, analysis and commentary on alaska s economy and economic statistics. Trends is funded by the employment and training services division of the alaska department of labor and workforce development. This is my first time in alaska and i am looking forward to learning a lot about the local economy during my visit here. In 2016, the eurozone is forecast to expand only 1. Alaska economy at a glance bureau of labor statistics.
Us outlook ihs us economic outlook how long will the ride last. Estimates for business capital investment for fullyear 2016 remained the same as mid year, forecasting a 0. Us economic outlook september 2016 key indicators percent change, annual rate 16q1 16q2 16q3 16q4 17q1 industrial production 1. Economic forecasts from the worlds leading economists. In 2017, growth is forecast to accelerate slightly to 2. Key points the global economic outlook in 2016 is largely unchanged. Update process is scheduled to occur between may 2015 and january 2016. In its january 2016 forecast aedc predicted anchorage would lose about 1,600 jobs as the effect of declining. This would be the first year of job losses since 2009, when alaska felt the wake from the national recession.
The 2016 economic outlook health check involves input from 2,158 respondents through 154 associations throughout the us and canada. The gdp growth rate is expected to fall below the 2% and 3% ideal range. Anchorages population declined by just under 1,500 residents in 2015, to end the year at 298,900, a drop of approximately 0. Alaska s economy rests on a socalled threelegged stool. Strong growth and higher inflation mark end of 2016 december 2016. This is 5,000 more jobs than all the jobs lost during the recession. Business fixed investment will benefit from an improving tax and. Alaska economic contents i alaska economic trerlds is a monthly publication dealing with avariety ofeconomic related issues in the state. Fourth quarter 2016 market outlook first midwest bancorp. Trends is funded by the employment and training services division of the alaska department of labor and workforce development and is published by the. Presentation to the anchorage economic development corporation anchorage, alaska by john c. The economic recovery in advanced markets, while steady, is still fragile. Us economic outlook the implications of a trump presidency.
Fiscal policy remains restrictive, but less severe than in 2014. Alaska economic trends is a monthly publicaon meant to objecvely inform the public about a variety of. This highly collaborative effort was designed to help promote economic growth by gathering feedback on how to cultivate great places to grow a business. The state is forecast to lose about 2,500 jobs in 2016, a 0. United states economic outlook 3rd quarter 2017 6 in europe, economic growth has continued to pick up momentum in the first half of the year, with slightly better than expected gdp performance, standing above 2% in annualized terms. Alaskas economic landscape and outlook seattle metropolitan chamber of commerce january 15th, 2016 alaska department of labor and workforce development, research section, neal. Fnsb comprehensive economic development strategy ceds. The alaska economy experiences less economic impact from the loss of a job held by a nonresident than a job held by an alaskan, who.1258 663 43 736 840 94 219 379 1104 416 1487 1422 872 1376 1580 601 1221 853 589 1374 63 1412 1006 1479 1546 221 1048 342 537 458 335 551 743 870 411 1245 641 567 1010 1426 52 1191 1464 470 912 1461 871 70 815