Economist predicts ‘nice and safe’ economy for 2015
Chamber President Pat Convery, left, listens as Comerica’s chief economist, Robert Dye, answers questions after his economic forecast at the Jan. 13 Good Morning Livingston program.
The message delivered by renowned economist Robert Dye of Comerica Bank at the Jan. 13 Good Morning Livingston program was cautiously optimistic. Predicting a 3 percent growth in GDP for 2015, Dye said the economic conditions for 2015 would be “nice and safe.”
Decreasing price per barrel of oil because the world is “awash in hydrocarbons” has translated into lower cost at the pump, so much so that “maybe they’ll bring the Hummer back,” Dye said. “Sales of Priuses are falling.”
However, he cautioned that higher oil prices are “one geopolitical event away.”
Auto sales have risen dramatically, from 4 million units in 2009 to 17 million in 2014.
“We’re at the top of the market,” Dye said. “The tail wind is in our rear view mirror.”
Good news for workers is that the U.S. unemployment rate is now 5.5 percent. With Dye’s prediction of the economy adding 200,000 jobs a month, the unemployment rate will go even lower, translating into higher wages.
For a copy of Dye’s Presentation, click here.