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University of Colorado economist says mixed national signals, urges conservative revenue forecasting for Erie
Summary
University of Colorado economist Rich Wobekind told Erie council that national growth is slowing with mixed signals across sectors, Coloradois tracking near the national average, and Erieshould plan budgets conservatively given data volatility and tail-risk scenarios.
Rich Wobekind of the University of ColoradoLeeds School of Business gave the Town of Erie Council a broad macroeconomic briefing on July 29, saying uncertain national data and shifting sectoral performance make revenue forecasting risky. He told the council that consumption drives roughly 70% of U.S. gross domestic product and that a baseline forecast for 2025 GDP is about 1.0'1.2% for the year, with a strong Q2 rebound offsetting a weak Q1.
Wobekind said the manufacturing ISM index has run below the 50 neutral mark repeatedly, signaling persistent weakness in…
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