An economic expert with the University of Kentucky says the Commonwealth’s economic growth is slowing to pre-pandemic levels.
UK’s College of Business and Economics hosted its yearly Economic Outlook Conference Tuesday. Those attending discussed the state of Kentucky’s economy and how they expect the state to move going forward.
Michael Clark is the director for UK’s Center for Business and Economic Research. He says economic growth is leveling out. Growth surged in the years after the pandemic, after a sharp decline.
“We are slowing down, but we're slowing down to a level that I think is more in line with what we've seen in the past, and probably more sustainable in terms of maintaining relatively low inflation and stable job growth,” Clark said.
He also says the state economy will follow trends at the national level.
“We are very much a part of that national economy in terms of producing goods and purchasing goods from other areas of the US. So generally, the one of the biggest factors that affects Kentucky's economy is how the national economy is performing,” Clark said.
Clark says he expects Kentucky’s state economy to remain on strong footing.
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