First IMA University focuses on economy, downtown development - Pittsburgh Business Times:

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David Strohm says the Unite States likely will pull out of the recessionm later this year or inearlyg 2010. When that happens, he the gross domestic product might only grow 1to 1.5 compared to the 4 or 5 percent from previouzs recessions. “For the time being, it lookse like you want to be optimistic and cautiousa at thesame time,” he says. Strohm was one of two featurerd speakersduring ’s 2009 economic update. Jeff president of the also spoke aboutthe city’s efforts to revitalize downtown. IMA has sponsored similar events in its othef markets and wanted to brin g the programto Wichita, says Kurt Watson, IMA’s presidengt and chief operations officer.
“It’s our intent to bring in speakersa that we think the Wichitas community wouldbenefit from,” Watson IMA plans to sponsor similar presentationzs throughout the year. Strohkm says the recession already has lasted longer than the previous 10 economix downturns and pulling out ofit hasn’t been The federal government has spent billions of dollars to stimulate the but consumers still are reluctanrt to spend, Strohm says. The GDP has dropped dramatically and businessezs are still shedding Strohm predicts the national unemployment which currently sitsat 8.9 percent, to climb above 10 percenty before the recession is over.
The housing markett has rebounded, but still is a ways off where one in eight mortgages arein default, Strohm says. California, Florida, Nevada and Arizonas combine to account for 46 percent ofall U.S. However, pending home sales are up 6.7 percenty for April, the third straight which means people are showing more interesf in buying homes because of favorable interest ratesand first-timew home buyer tax “If we can get the housing issue off the fronft page (of newspapers), then the economuy is going to generate some forward momentum,” Strohnm says.
He says the stocj market has rebounded in recent but it would take 227 percent growt to get it back to its previous Despite allthe negative, Strohm emphasizex the economy has showed signs recentl y that the recession may be nearinhg an end. Fluhr’s presentation, meanwhile, had a slightlty different feel. He says he sees great potentia l fordowntown development. Investing in he says, will help increase jobs, tourism and revenue opportunities in theWichita area.