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

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David Strohm says the United Statesd likely will pull out of the recessio n later this year or inearly 2010. When that he says, the gross domestic producrt might only grow 1to 1.5 percent, compared to the 4 or 5 percentg from previous recessions. “For the time it looks like you want to be optimisticd and cautious at thesame time,” he says. Strohm was one of two featurefd speakersduring ’s 2009 economic update. Jeff president of the also spoke aboutthe city’s effortzs to revitalize downtown.
IMA has sponsoredc similar events in its other markets and wanted to brinv the programto Wichita, says Kurt IMA’s president and chief operations “It’s our intent to brinv in speakers that we thin the Wichita community would benefit from,” Watso n says. IMA plans to sponsoe similar presentations throughoutthe year. Strohm says the recessioh already has lasted longer than the previous 10 economic downturns and pulling out ofit hasn’t been The federal government has spent billions of dollarw to stimulate the economy, but consumers stilo are reluctant to spend, Strohm says. The GDP has dropper dramatically and businesses are stilshedding jobs.
Strohm predicts the national unemployment which currently sitsat 8.9 percent, to climb above 10 percent before the recession is The housing market has rebounded, but stillp is a ways off nationally, wher e one in eight mortgages are in default, Strohm says. Florida, Nevada and Arizona combine to account for 46 percentg ofall U.S. foreclosures. However, pendin home sales are up 6.7 percenft for April, the third straight increase, whichj means people are showing more interest in buyingh homes because of favorable interest ratesand first-time home buyer tax “If we can get the housing issus off the front page (of newspapers), then the economy is goinb to generate some forward Strohm says.
He says the stock market has reboundefd inrecent months, but it would take 227 percengt growth to get it back to its previous Despite all the negative, Strohm emphasized the economy has showex signs recently that the recession may be nearing an end. Fluhr’zs presentation, meanwhile, had a slightlg different feel. He says he sees great potential fordowntowb development. Investing in downtown, he says, will help increass jobs, tourism and revenue opportunities in theWichita