On February 22, 2005 members of KAMPA gathered at the Green Acres Apartments Community Room to hear Economist Dr. Robert T. Sweet present an Economic Review and Outlook on the national economy and its effect on our region.
Dr. Sweet traveled from Bethesda, MD. to report that economic performance for 2004 came in "on target" and that he was optimistic in 2005 for "a good year, but not a vintage year". Positive signs are: job growth, a strong housing market and overall productivity all remain high.
Some of his concerns in areas that could affect us this year are the rising price of oil and consumer confidence, since consumers represent 66% of the economy. Dr. Sweet also discussed how our region is transforming from manufacturing to more service-related industries and other sectors. He feels that our accessibility to major metropolitan centers and our having a good transportation system are big assets to future economic growth.