Here are five things to know:
1. Fears of a 2023 recession proved unfounded, and while an economic slowdown could occur, most believe a recession will be avoided this year.
2. Optimism is fueled by strong economic indicators, including high employment, low unemployment, an easing of inflation, a surging stock market and Gross Domestic Product increasing by an annualized 3.3% in the 4th quarter.
Credit: JIM NOELKER
Credit: JIM NOELKER
3. Interest rate cuts by the Federal Reserve are anticipated this year “and that will have a big impact on keeping the economy moving,” said Steve Staub, president of Staub Manufacturing Solutions in Dayton.
Credit: Marshall Gorby
Credit: Marshall Gorby
4. New jobs coming to the region and state include 2,000 planned by Joby Aviation Inc., which will manufacture electric vertical takeoff and landing aircraft in Montgomery County; 2,200 at the Honda/LG Solution electric vehicle battery plant being built in Fayette County and 3,000 at Intel’s semiconductor plants under construction in Licking County near Columbus.
Credit: Caroline Williams
Credit: Caroline Williams
5. Strong employment growth should continue and companies are “generally feeling optimistic for the year ahead,” Stephanie Keinath, vice president of strategic initiatives at the Dayton Area Chamber of Commerce and a member of the Dayton Daily News Community Advisory Board.
SEE THE STORIES IN THIS SERIES
Dayton and surrounding region economic outlook is strong for 2024
New jobs, tight labor market keep workforce at top of region’s priorities in 2024
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