Business and the Economy
Economic Prediction for 2013
Economic growth in 20-13 could mirror the growth seen this year in Kentucky. Ken Troske, who directs the Center for Business and Economic Research at the University of Kentucky, predicts another two to three percent in economic growth. Troske adds this year’s economic improvement came slower than anticipated.
“It’s certainly not the growth that you would expect coming out of a recession. We’ve certainly not see, we’re a couple years since we came out of the recession and we still just haven’t seen the growth that you would like to see coming out of a recession. I still think we’re maybe a year or two away from that,” said Troske.
Troske doesn’t anticipate a return to recession in Kentucky. Still, he admits an economic downtown in Europe could hurt Kentucky’s export business.
“Thing could turn south very dramatically in Europe and that potentially could hurt us. I don’t think those things will happen which means I don’t expect us to go into a recession,” added Troske.
Troske adds economic growth of two percent is not that much. So, he says, even a small setback could put Kentucky back in recession.