Economic Forecast for Oklahoma

Approximately 200 people gathered on the campus of Metro Technology Center to hear the Economic Forecast for Oklahoma. The seminar was co-sponsored by CareerTech and the OSU Spears School of Business

Participants were introduced to the Oklahoma forcast by Mark Snead, Director of the Center for Applied Economic Research, and Chad Wilkerson, VP and Branch Executive of the OKC Branch of the Federal Reserve, who led a discussion on the national outlook.

Participants also heard about local area economic development and key economic trends in the agriculture and energy sectors as well as the impact of Tribal economic development in Oklahoma.

During the presentation of the Oklahoma forcast, comparissions using GDP of the US and other countries were given. It was pointed out that if the current recession cost $1Trillion, it would only equal 6-7% of GDP while some of the worst banking crisis in heavily regulated countries have equaled much more. Crises in Japan cost taxpayers 25% of GDP and in South Korea 31% of GDP. In the US, the Great Depression saw a cost to taxpayers equaling 50-75% of GDP.

Oklahoma's outlook depends on several factors, includintg an oil threshold of $45-$50 oil and natural gas.

You can view the complete forcast presentation here.

Press Release