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Experts offer Arizona, U.S. economic forecasts


November 25, 2008

The rough economy has people looking for answers about the housing market, unemployment and the safety of financial assets. Top economic experts will deliver their forecasts for Arizona and the nation at the 45th Annual Economic Forecast Luncheon co-sponsored by Arizona State University’s W. P. Carey School of Business Economics Department and JPMorgan Chase. The Dec. 10 luncheon at the Phoenix Convention Center is widely recognized as the Valley’s largest and most trusted economic event, drawing a crowd of about 1,500 people.

“The forecast luncheon is popular with the media and the public every year, but this year, we obviously expect it to take on an even more important tone, where we can potentially help people with knowledge about the economy’s future,” says Professor Lee McPheters, director of the W. P. Carey School of Business’ JPMorgan Chase Economic Outlook Center.

The featured luncheon speaker, Dr. Joel Naroff, was named forecaster of the year by Bloomberg Business News in 2008, by the National Association for Business Economics in 2007, and by MSNBC.com in 2006. Naroff has also been recognized as a top forecaster by USA Today and recently received the Lawrence R. Klein Award, sponsored and judged by the W. P. Carey School of Business, for having the most accurate economic forecast among those who participate in the renowned Blue Chip Economic Indicators survey. He is president of Naroff Economic Advisors, and he consults with banks, corporations and governments about how to strategically deal with economic developments.

Other presentations at the luncheon will include:

  1. An outlook for the financial markets
  2. An economic outlook for Arizona and the Western states by McPheters, editor of Economy@W. P. Carey, whose work has been featured in The Wall Street Journal, The Economist and The New York Times
  3. An outlook for the Phoenix-area real estate market by Elliott D. Pollack, president of the highly regarded economic and real estate consulting firm Elliott D. Pollack & Co.

The 45th Annual W. P. Carey School of Business/JPMorgan Chase Economic Forecast Luncheon will be held at the Phoenix Convention Center’s South Ballroom on Wednesday, Dec. 10 from 11:15 a.m. to 1:30 p.m. Admission is $75 per person. Proceeds from the lunch are used to support student scholarships, faculty research, and other academic and professional activities at the W. P. Carey School of Business Department of Economics. For more information, including registration details, go to http://wpcarey.asu.edu/ecn/efl.