The city will host an unprecedented number of games with the entire tournament being played in Indiana. But the pandemic will limit capacity at both games and restaurants.
COVID-19 uncertainty makes economic predictions more difficult
Economists are struggling to understand how bad the fallout might get and how long it might take to recover.Read More
IBJ Podcast: How can companies survive the economic calamity of COVID-19?
“It’s your job to survive and to make sure that when these social controls are lifted and everybody starts to come back out that you’re ready for business,” IU’s Phil Powell, an economist at the Kelley School of Business, tells host Mason King.Read More
Even after the NCAA said Feb. 19 that some spectators will be allowed at the games, local tourism officials and economists are still tempering their financial expectations.
Indiana’s economy should start to recover this year from the damage of COVID-19, but the economy likely won’t fully rebound until late 2022 or early 2023, a Ball State University economist says.
The Brookings Institution report, “Indiana GPS: Strategies for Resilience,” identifies job growth, wages and technology as areas for improvement in the state’s economy.
Just 16% of respondents said they expected the economy to worsen in the year ahead, the smallest share since 2015 and consistent with an economy and labor market that are slowly recovering.
Following seven years of growth in new-vehicle sales, U.S. consumers appear to be tapping the brakes—but the auto industry says the slowdown is not causing them concern.
The chief investment strategist for Fifth Third Bank says the economy is in the seventh inning of its recovery, which is "good news." But headwinds in the labor market could be limiting the potential for growth.
The U.S. economy rebounded sharply in the spring, growing at the fastest pace in more than two years amid brisk consumer spending on autos and other goods.
Economists surveyed by the National Association for Business Economics are generally optimistic about the U.S. economy, with most expecting stronger growth than last year's poor performance.
The median estimate from economists surveyed by the National Association for Business Economics calls for the American economy to grow 2.2 percent in 2017.
The vote in favor of a “Brexit” has shocked investors and sent stock markets plummeting around the world. Years of financial uncertainty lay ahead on a global scale as the U.K. and EU find their footing.
The momentum appears to favor those who wish to remain in the European Union. The betting market Betfair said the probability that the country will stay stands at 86 percent. Optimism in financial markets also points in that direction.
Employers raised pay, more people felt confident enough to look for work, and the unemployment rate dipped to 4.9 percent, its lowest level since 2008.
Much of the weakness last quarter reflected a slowdown in consumer spending, which grew at an annual rate of just 2.2 percent, compared with a 3 percent rate in the previous quarter.
The U.S. economy grew at a slightly faster rate in the summer than previously reported, mainly because businesses restocked their goods at a stronger pace than first thought.
U.S. hiring showed a strong downturn in September, and job gains for July and August were lower than previously thought, a sour note for a labor market that had been steadily improving.