More than 500 people attended Tuesday’s 2023 Economic Forecast at the Spokane Convention Center which featured three local economists Dr. John Mitchell, Principal, M&H Economic Consultants; Dr. Grant Forsyth, Chief Economist, Avista Corp.; and Dr. Vange Ocasio Hochheimer, Associate Professor of Economics, Whitworth University.
In partnership with the Spokane Journal of Business, this was GSI’s 25th Annual Economic Forecast, presented by U.S. Bank. The theme, “Shocks, Mistakes, and Replays,” sums up the outlook for 2023. Many national and international factors such as rising inflation, the Russia/Ukraine war, a decline in the labor force participation rate, and the ongoing effects of COVID continue to play into the scenario. Mid-November is seeing the highest inflation rates and tightest labor markets many have ever seen and the recession risk is high by the end of 2023.
Check out what the economists have to say in the Journal of Business Economic Forecast Supplement.
Thanks to the business community for helping us make this year’s event a success!