Saturday, April 28, 2012

Forecast: Idaho Economy to Expand Slowly, Personal Income to Grow Nearly 2 Percent This Year

Posted By on Sat, Apr 28, 2012 at 1:47 PM

Idaho's latest economic tip-sheet, published late Friday, offered some good news tempered with caution. The Idaho Economic Forecast—a nearly 80-page document—is the Division of Financial Management's five-year outlook, with particular focus on employment.

"On an annual basis, employment grew 0.5 percent in 2011, which was more than twice as fast as the 0.2 percent that was predicted in January 2012," said the report. "In summary, the economy is forecast to expand slowly over the forecast period. Real GDP is projected to increase 2.2 percent in 2012, 2.4 percent in 2013, 3.4 percent in 2014, and 3.2 percent in 2015."

The forecast also predicts that real personal income is anticipated to grow 1.89 percent this year, 2.89 percent next year, 3.29 percent in 2014 and 2.99 percent in 2015.

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