ECONOMIC FALLOUT FROM KATRINA AND RITA IS NOT OVER YET,
UH’S SMITH TO ANNOUNCE DURING ANNUAL FORUM
The national economy has yet to feel the impact of Katrina and
Rita, says Barton Smith, University of Houston director of the Institute
for Regional Forecasting (IRF).
The burden of high heating costs this winter should have a significant
impact on consumer spending in the spring. This coupled with excessive
exuberance on the part of the Federal Reserve Bank to fight this
supply-shock inflation with higher interest rates is likely to be
a major damper on economic growth next year.
Smith will talk about those factors during “The Aftermath
of Katrina: Where Do We Go From Here?” Nov. 10, at the Hyatt
Regency Hotel Downtown, 1200 Louisiana. He not only will present
his annual forecasts for the nation and the Houston region, but
also will talk about the need to rethink many major policy perspectives
that should have been learned from the country’s experience
with Katrina and Rita.
Smith’s forecast is not all gloomy, however. He sees Houston’s
economy steadily improving, mostly because the nation’s economic
problems, particularly high energy prices, will stimulate part of
the local economy. Nonetheless, Smith will argue that the new, diversified
Houston economy needs more than energy growth to be fully healthy.
It requires a foundation of strong national growth as well, and
that is likely to be more than a year away. As usual at this time
of year, the IRF’s updated 5-year and 25-year forecasts for
the region’s employment, population, and sales will be released,
and Smith will compare Houston’s growth with that of the U.S.
and Texas economies.
The UH economics professor has conducted numerous studies in urban
issues, housing, transportation and the environment. During the
past 15 years, he has gained national and local recognition for
his analyses of the Houston economy and real estate markets. Smith
wrote “Handbook on the Houston Economy” and continues
to publish two symposium reports a year on Houston’s economy
and real estate markets.
Prior to his presentation, Smith will be available for media interviews
from 10:30 to 11:15 a.m.
ABOUT THE EVENT:
WHAT: |
“The Aftermath of Katrina: Where Do We Go
From Here?” |
WHO: |
Barton Smith, UH professor of economics and director of the
UH Institute for Regional Forecasting |
WHEN: |
Thursday, Nov. 10, 2005
Media availability: 10:30 to 11:15 a.m.
Luncheon: 11:45 a.m. to 12:20 p.m.
Presentation: 12:20 to 1:30 p.m. |
WHERE: |
Imperial Ballroom, Hyatt Regency Hotel Downtown, 1200 Louisiana |
For more information about UH visit the universitys Newsroom at www.uh.edu/admin/media/newsroom.
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