Release Date: Friday, December 3, 2004

Georgia Economic Outlook Luncheon Comes to World Congress Center December 9

ATHENS, Ga. — The annual economic forecast from the University of Georgia's Terry College of Business is anticipating a "relatively uninspired" year in 2005, due in part to rising interest rates, dwindling federal fiscal stimulus and overextended consumers.

Businesses rather than consumers are expected to lead U.S. economic growth in 2005, which is a reversal from recent years in which consumer spending helped buoy an otherwise lackluster economy.

The Terry College's forecast for Georgia and the nation will be presented in detail Thursday, December 9, at the 22nd annual Georgia Economic Outlook luncheon, the state's biggest economic forecasting event, held in the Murphy Ballroom of the Georgia World Congress Center in Atlanta.

Directed by the Terry College of Business, the noon program annually draws more than 1,000 of the state's top business and governmental leaders for a preview of next year's economic prospects.

The Georgia Economic Outlook 2005 will feature opening remarks by Gov. Sonny Perdue and UGA President Michael F. Adams, followed by overviews of the economic forecasts for the nation and the state.

Nariman Behravesh, chief economist of Global Insight, one of the world's leading economic forecasting firms, will deliver the national economic outlook. Behravesh manages Global Insight's Global Macroeconomics Group and is responsible for developing the economic outlook and risk analysis for the United States, Europe, Japan and emerging markets.

P. George Benson will give the Georgia economic forecast. Named dean of the Terry College in 1998, Benson previously served five years as dean of the business school at Rutgers University. He also holds the Simon S. Selig Jr. Chair for Economic Growth at UGA.

The Terry College luncheon will include projections by the Selig Center for Economic Growth, as well as forecasts on interest rates, income growth and employment.

Statewide sponsors of the Economic Outlook series are RBC Centura, Atlanta Business Chronicle, Public Broadcasting Atlanta, Georgia Trend magazine, the Georgia Chamber of Commerce, the Georgia Department of Economic Development and the Georgia Economic Developers Association.

Additional sponsors for the Atlanta program are the Atlanta Convention and Visitors Bureau, the Georgia Black Chamber of Commerce, the Georgia Hispanic Chamber of Commerce and the Metro Atlanta Chamber of Commerce.

Following the Atlanta program, the Economic Outlook tour travels around the state to Augusta (January 7), Swainsboro (January 11), Jekyll Island (January 14), Macon (January 18), Columbus (January 21), Thomasville (January 26) and Albany (January 27).

In Atlanta, registration fees are $80 per person or $640 for a table of eight. Fees include refreshments, lunch and Georgia Economic Outlook publications. Online registration is available at http://www.terry.uga.edu/eol. For information, call (800) 884-1381.

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