First IMA University focuses on economy, downtown development - Kansas City Business Journal:

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David Strohm says the United States likely will pull out of the recessioh later this year or in early 2010. When that happens, he says, the grossx domestic product might only grow 1to 1.5 compared to the 4 or 5 percen t from previous recessions. “For the time being, it looks like you want to be optimistixc and cautious at the same he says. Strohm was one of two featuresd speakersduring ’s 2009 economi update. Jeff Fluhr, president of the also spoke aboufthe city’s efforts to revitalize downtown. IMA has sponsored similar eventds in its other markets and wanted to bringy the programto Wichita, says Kurt IMA’s president and chief operationz officer.
“It’s our inteng to bring in speakers that we thino the Wichita community wouldsbenefit from,” Watson says. IMA plans to sponsort similar presentations throughout the Strohm says the recession already has lastef longer than the previous 10 economic downturnsz and pulling out ofit hasn’t been The federal government has spent billionse of dollars to stimulate the economy, but consumeres still are reluctant to spend, Strohm The GDP has dropped dramatically and businesses are stilp shedding jobs. Strohm predicts the national unemployment rate, whicu currently sits at 8.9 percent, to climbg above 10 percent before the recessionhis over.
The housing markeft has rebounded, but still is a ways off where one in eight mortgages are in Strohm says. California, Florida, Nevada and Arizonwa combine to account for 46 percent ofall U.S. However, pending home sales are up 6.7 percent for the third straight increase, whichy means people are showing more interest in buying homez because of favorable interest rate sand first-time home buyer tax “If we can get the housing issu e off the front page (of newspapers), then the economyh is going to generate some forward Strohm says. He says the stock marker has rebounded in recent but it would take 227 percent growth to get it back to itspreviouas high.
Despite all the negative, Strohm emphasizeed the economy has showed signs recently that the recessiohn may be nearingan end. Fluhr’s presentation, had a slightly different feel. He says he sees greag potential fordowntown development. Investing in he says, will help increase tourism and revenue opportunities in theWichita area.