An expert says Indiana's economy is recovering slowly but faster than other manufacturing-heavy Midwestern states.
Chief regional economist Jim Diffley of IHS Global Insight gave his firm's annual Indiana outlook to the State Budget Committee on Wednesday. He says Indiana has grown faster than most states because of a rebound in manufacturing of transportation equipment and growth in low-paying temporary and business services jobs.
Diffley says Indiana is on track to reach 3 million jobs by 2014, a level it last reached in 2007. He also says personal income in Indiana has grown by nearly 3 percent in 2010 and will grow by more than that in each of the next two years.
Retail sales are forecast to grow by about 5 percent in each of the next two years.