New Alabama Economic Outlook 2001 Predicts Slowdown In Gdp Growth, Drop In Consumer Spending, Increase In Exports

TUSCALOOSA, Ala. – The new Alabama Economic Outlook 2001, to be released in conjunction with the 2001 Economic Outlook Conference presented by The University of Alabama’s Center for Business and Economic Research, says the state’s businesses can look for a slowdown in consumer spending, a drop in employment growth and an increase in unemployment.

The Outlook Conference is scheduled for Tuesday, Jan. 23 at the RSA Plaza Terrace in Montgomery. The conference registration fee is $95, which includes the Alabama Economic Outlook 2001, conference materials and lunch.

Jack Guynn, president and CEO of the Federal Reserve Bank of Atlanta, will be the headline speaker.

“There is always a lot of anticipation this time of year as we go to press with the Outlook,” said Dr. Carl Ferguson, associate dean for research and technology and director of the Center for Business and Economic Research at The University of Alabama. “The interest is especially keen this year because of the concern about the new Bush administration, the recent interest rate cuts and the current economic slowdown. So we expect a strong demand for the Outlook.”

The 32-page document addresses the U.S. economic outlook, as well as the economic outlook for the state and its metropolitan areas. It also presents a sector overview that includes manufacturing; construction; retail and wholesale trade; services; finance, insurance, and real estate; transportation, communications, and public utilities; mining; government; and agricultural services, forestry, and fisheries.

In addition to Guynn, speakers include:

Andrew Hodge of The WEFA Group, who will give the U.S. Outlook.

Dr. Ferguson, who will address the Alabama Outlook.

Ira Harvey of UAB, who will present the Alabama Revenue Outlook.

Conference sponsors this year include BellSouth; the Business Council of Alabama; Compass Bank; Energen Corporation; Sterne, Agee & Leach, Inc.; United Parcel Service; and Vulcan Materials Company.

For more information, call 205-348-6191 or email uacber@cba.ua.edu.

CBER is Alabama’s central reservoir for business, economic and demographic data. Since its creation in 1930, CBER has engaged in research programs to promote economic development in the state, while continuously expanding and refining its broad base of socioeconomic information. To forecast the level of activity in Alabama, CBER developed an econometric model of the state. Beginning in 1980, output from the model has been published in the annual Alabama Economic Outlook series.