Lexington, KY — The Center for Business and Economic Research (CBER) at the University of Kentucky released its 42nd Kentucky Annual Economic Report Tuesday. CBER Director Chris Bollinger, who authored the report's 2014 Kentucky economic forecast, said he is "generally optimistic about the state's economic prospects this year.
“The future course of Kentucky’s economy will depend in large part on businesses and consumers becoming comfortable with the certainty of the recovery. We expect this comfort level to increase as growth gathers steam and the unemployment rate continues to drop,” Bollinger said.
He is forecasting a 2 percent increase in Kentucky’s gross domestic product and a decline of the unemployment rate to 6.5 percent, which is more or less on par with his expectations for the U.S. economy this year.
The Kentucky Annual Economic Report is one of the many ways CBER — the applied economic research branch of UK's Gatton College of Business and Economics — fulfills its mandated mission to examine various aspects of the Kentucky economy. CBER performs research projects for federal, state and local government agencies, as well as for private-sector clients nationwide.
Digital copies of the Center for Business and Economic Research 2014 Annual Economic Report can be obtained at the CBER website at http://cber.uky.edu or by calling 859-257-7675 or sending email to cber@uky.edu.