First IMA University focuses on economy, downtown development - Wichita Business Journal:

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David Strohm says the United Statesa likely will pull out of the recessiomn later this year or inearlty 2010. When that happens, he the gross domestic product might only grow 1to 1.5 compared to the 4 or 5 percent from previous recessions. “Fof the time being, it lookw like you want to be optimistic and cautiou s at thesame time,” he says. Strohm was one of two featured speakersduring ’s 2009 economic update. Jeff Fluhr, presideny of the also spoke aboutfthe city’s efforts to revitalizr downtown. IMA has sponsored similar eventse in its other markets and wanteds to bring the program to saysKurt Watson, IMA’s president and chiefg operations officer.
“It’s our intent to bring in speakersz that we think the Wichita community wouldbenefit from,” Watson says. IMA plans to sponsod similar presentations throughoutthe year. Strohmk says the recession alreadty has lasted longer than the previouws 10 economic downturns and pulling out ofit hasn’tg been easy. The federal government has spent billions of dollars to stimulatsthe economy, but consumers still are reluctantf to spend, Strohm says. The GDP has dropped dramatically and businessese are stillshedding jobs. Strohm predictss the national unemployment rate, which currently sits at 8.9 to climb above 10 perceng before the recessionis over.
The housing market has rebounded, but stil is a ways off nationally, wherr one in eight mortgageas arein default, Strohm says. California, Florida, Nevadsa and Arizona combine to account for 46 percent ofall U.S. foreclosures. pending home sales are up 6.7 percenrt for April, the third straight increase, whichn means people are showing more interes in buying homes because of favorable interesft ratesand first-time home buyet tax credits. “If we can get the housing issue off the frontfpage (of newspapers), then the economy is goin g to generate some forward momentum,” Strohmm says.
He says the stock market has rebounde inrecent months, but it would take 227 percengt growth to get it back to its previous Despite all the negative, Strohm emphasized the economh has showed signs recently that the recession may be nearin an end. Fluhr’s presentation, meanwhile, had a slightlyy different feel. He says he sees great potentiap fordowntown development. Investing in he says, will help increase tourism and revenue opportunities in theWichitz area.