Note: The following is a guest post from the MACPA's director of finance, Skip Falatko, CPA.
The Maryland Bankers Association held its fifth annual First Friday Economic Outlook Forum in Baltimore last month, where prominent economists and chief investment officers opined on the economy and markets.
It’s always an interesting event, but more so this year because of diverging opinions on which direction we’re going. I especially liked the fact there wasn’t much “on the one hand / on the other hand” economist-speak. They just put it out there.
This year’s panelists included:
Moderating the panel was Anirban Basu of Sage Policy Group.
First, let’s look at comments from last year’s panel and see how they stood up.
Here are the comments that stood out among this year’s panelists:
So there you have it. Three divergent views of where we’re headed economically. 2012 will bring us anywhere from a recessionary negative GDP to 3.5 percent GDP growth. Given the weakness in the U.S. and world economies, I tend to be more pessimistic. I’ll predict 2012 GDP of 1.5 percent.
What do you think?