Chapman University Chapman Economic Forecast 2014

Known as one of the most accurate predictors of the economy, Chapman University’s Economic Forecastis without a doubt one of the most enjoyable. While the forecast numbers themselves may sometimes be dreary, the banter between the two men presenting the forecast findings is always lively and humorous.

Presented by Chapman University’s President and economist Dr. James Doti and his former student and now director of the school’s well-respected A. Gary Anderson Center for Economic Research, Dr. Esmael Adibi, the forecast is a well-attended event that generally attracts 1,500. While the duo, who did their original forecast back in 1977, are serious about the economic findings they present, they enjoy joking around with each other.

At this year’s 36th annual forecast held on November 25th, the audience laughed while watching Doti and Adibi’s zany competition regarding appearing on the soap opera The Bold and The Beautiful.

As for the 2014 economic forecast, which gave predictions for the U.S, California and Orange County, Doti and Adibi reported that “the economy is stuck in low gear.” They predict that the mild recovery we’ve experienced since the Great Recession hit in 2009 will continue in the New Year.

Though it is a lethargic recovery compared to prior recoveries, it is still a recovery, bringing with it some positives in the coming year, including a two percent increase in consumer spending, a federal budget that will continue to shrink, a significant increase in residential housing starts, job growth throughout the U.S. and Orange County and a six year high in consumer sentiment.

For more information regarding the forecast, see the upcoming January/February 2014 edition of the Plaza Review.

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OrangeReview.com article posted Nov 26, 2013

Written by Julie Bawden–Davis, Photographed by Mike Escobedo

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