Business 2013 Look Ahead: Slow economic growth predicted for U.S., Tulsa area
By LAURIE WINSLOW World Staff Writer on Jan 6, 2013, at 2:24 AM Updated on 1/06/13 at 7:28 AM
The current energy boom is focused on oil drilling in a way that producers haven't seen in a decade or more. Courtesy
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The new year finally made it - even though some doubted 2013 would actually dawn.
Last-minute wranglings in Washington prevented the nation from completely careening over the fiscal cliff to a financial demise, even if not everyone is celebrating the final deal.
So the reality is it's not the end of the world. But what lies ahead for the year is any soothsayer's guess.
Going forward, some economists predict slower growth for the United States as well as Oklahoma and the Tulsa area.
Recently, during the Tulsa Regional Chamber's annual Economic Outlook Conference, chamber economist Bob Ball noted that the Tulsa area's total employment forecast is expected to grow by 7,690 jobs in 2013 for a 1.8 percent increase, down from the 2.5 percent growth projected through the end of 2012.
Income growth, likewise, is predicted to slow to 4.8 percent growth from 6.8 percent forecast for 2012.
No matter what the economy does, all eyes will remain glued to the ongoing drama of AMR Corp., the parent of American Airlines, and whether a merger will occur with US Airways Group Inc. and what that might mean for the company's Tulsa operation.
Plenty of guesswork also surrounds what will happen among the area's sundry sectors, including energy, banking, housing and the retail market. Within these pages, the Tulsa World's Business staff provides a snapshot of what may be in store.
Laurie Winslow 918-581-8466
laurie.winslow@tulsaworld.com
Original Print Headline: Slower, but steady
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