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ON THE ECONOMIC, BUSINESS AND POLITICAL CLIMATE Roger Tutterow, Ph.D. Coles College of Business Kennesaw State University College Park, GA February 18, 2015
GDP vs. Final Sales
Average GDP Growth Rate 4.7
ISM’s “PMI”
Consumer Sentiment
CONSUMER SENTIMENT
Leading Economic Indicators (source: Conference Board, % change in last 6 months)
Change in Employment (non-farm payrolls)
State Employment (Jobs Lost)
State Employment (Jobs Added)
State Employment (Net Change)
Employment: Georgia
Level of Employment: ATL
Change in Employment: ATL
Location Quotient: Atlanta
Location Quotient: South Metro vs Atlanta
Job Loss by Sector: Recession
Job Growth by Sector: Recovery
Location Quotient: South Metro vs Atlanta
Crude Oil (Spot Price, WTI)
Federal Funds Rate Time to Move Near?
10-Year Treasury Bond
“Five Little PIIGS”
FX: Major Trading Partners
Bank Credit Loosening?
Bankers on C&I Loan Demand?
Construction Spending
Construction Spending: Private
Non-Residential Construction
US Housing Starts: SF and Total (12 month moving average)
US Housing Starts: Multi-family (12 month moving average)
ATL Housing Starts: SF and Total (12 month moving average)
ATL Housing Starts: Multi-family (12 month moving average)
The Demographics: Boom & Bust
Home Prices & CPI
CS/S&P Home Price Index (FROM PEAK TO NOVEMBER 2014)
Case Shiller: Atlanta & US-20
Case Shiller: Atlanta by Tier
Household RE Equity (in $ Billions)
Home Investor Purchases
Investor Activity
Currents Issues in Fiscal Affairs Federal: – “Bush Cuts” < 400K made permanent – Government default avoided in 2011 & 2013 – what about 2015? – In Play: Affordable Care Act, Keystone, Dodd-Frank, EPA, NLRB, SCOTUS States: – Bond ratings preserved during downturn – Tax Reform Initiatives in other States – Recent gains in manufacturing facilities due to “reshoring” – SE states domination biz location ranking Local: – RE valuation and revenues rising – Fiscal distress moderating
ON THE ECONOMIC, BUSINESS AND POLITICAL CLIMATE Roger Tutterow, Ph.D. Coles College of Business Kennesaw State University College Park, GA February 18, 2015