Economists have a simple rule when forecasting: give a number, or give a date, but never both at the same time. That way you can never be wrong.
In a report prepared for the U.S. Conference of Mayors, the IHS Global Insight economists looked out to 2020 to forecast annual economic growth for all 363 metro areas in the country.
IHS economists are forecasting a 2.0 percent increase in employment in 2014 in metro markets (cities with surrounding suburbs) compared to 1.6 percent in non-metro markets.
IHS is a leader in the market for supplying economic information and forecasts. IHS was named by Consensus Economics® as the most accurate economic forecaster in the U.S. in 2013.
So what are the top markets for economic growth between now and 2020?
What are the markets expected to have the least economic growth from 2013 to 2020?
To read the Wall Street Journal summary (subscription required) click http://online.wsj.com/articles/cities-in-south-west-to-grow-fastest-1403480111
To read the full 132 page report from IHS click http://www.usmayors.org/metroeconomies/2014/06/report.pdf
Since they have given both the date and number, accuracy will be less than perfect.
An intriguing report, nevertheless.
Ted
