On Wednesday, the Georgia State Economic Forecasting Center in the Robinson College of Business hosted its quarterly conference – this one titled “The Future is Paved With Good Intentions.” There were several guest speakers at the event, including Michael Drury, Chief Economist from McVean Trading and Investments, LLC, Paul Thomas, Principal and Co-Founder at Economic Stories LLC, David Palinski, Senior Vice President and Chief Financial Officer at the Georgia Aquarium and the main event, Rajeev Dhawan, the Director of the center and perhaps Georgia’s economic forecaster-in-residence.
Drury started out the program discussing the locomotive of the global economy and the roles the US, China, Europe, Japan and a fresly Brexited UK in the changing economy. Drury discussed the possible effects of the elections in the U.S. and Europe and party promotions in China. He laid out some of the global growth projections, including a decline in the Euro area of .2%, a decline in China of .4% (although still a quite healthy 6.2% growth rate, and a decline in the UK of .7%. Drury expects growth in the U.S. to inch up to 2.2% next year, a .6% increase from 2016. One interesting data point from Drury compared new student loans to net business investment. In the second quart of 2016, the most recent data available, students loans amounted to approximately $90 billion, net business investment including depreciation came in at a loss of approximately $50 billion.
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