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Economist Predicts Good, Not Great 2014 For Central Ohio Economy
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Long-time Central Ohio economist Bill Lafayette says 2014 certainly wonâ€™t be a boom year for the Columbus area economy, but it definitely will feel better. Â He predicts decent economic and job growth in Central Ohio in the coming year.
In his annual economic forecast to the Columbus Metropolitan Club, Lafayette, the owner of Regionimics, Â predicted Central Ohio will seeÂ 18,000 net new jobs in 2014 â€“ thatâ€™s job growth of 1.9% .
Lafayette told an audience of about 300 in downtown Columbus, â€œIt’s not as good as it should be, but a whole lot better than where it was.â€
Lafayette projects Central Ohioâ€™s strong economic sectors will remain strong â€“ healthcare, business services, retail and construction. Â Â Lafayette says Central Ohioâ€™s weak sectors will be information, non-business services, and government.Â He predicts increased productivity will keep a lid on manufacturing job growth.
While Lafayette predicts mortgage rates will rise in 2014, he says the Central Ohio real estate market should continue to see gains.
To hear an interview with Bill Lafayette, click here.