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Idaho Economic Outlook Pacific Northwest Regional Economic Conference May 15, 2008 Presented By Michael Ferguson Idaho Division of Financial Management.

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Presentation on theme: "Idaho Economic Outlook Pacific Northwest Regional Economic Conference May 15, 2008 Presented By Michael Ferguson Idaho Division of Financial Management."— Presentation transcript:

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2 Idaho Economic Outlook Pacific Northwest Regional Economic Conference May 15, 2008 Presented By Michael Ferguson Idaho Division of Financial Management www.idaho.gov/dfm

3 2004 Total Gross Domestic Product by State by State (Percent Change from Year Ago) Source: St. Louis FRB, GeoFred

4 2005 Total Gross Domestic Product by State by State (Percent Change from Year Ago) Source: St. Louis FRB, GeoFred

5 2006 Total Gross Domestic Product by State by State (Percent Change from Year Ago) Source: St. Louis FRB, GeoFred

6 Idaho Employment Growth Rate 2004 Source: April 2008 Idaho Economic Forecast

7 Idaho Employment Growth Rate 2005 Source: April 2008 Idaho Economic Forecast

8 Idaho Employment Growth Rate 2006 Source: April 2008 Idaho Economic Forecast

9 Idaho Employment Growth Rate 2007 Source: April 2008 Idaho Economic Forecast 656 9.6 16.2 14.9 53.1 111 32.5 10.9 20.9 73.6 83.2 63.3 104 Level (k)

10 Idaho Employment Growth Rate 2008 Source: April 2008 Idaho Economic Forecast

11 Idaho Employment Growth Rate 2009 Source: April 2008 Idaho Economic Forecast

12 Idaho Employment Growth Rate 2010 Source: April 2008 Idaho Economic Forecast

13 Unemployment Rate Source: Idaho Dept of Labor and U.S. Bureau of Labor Statistics

14 November 2007 Source: Philadelphia FRB

15 December 2007 Source: Philadelphia FRB

16 January 2008 Source: Philadelphia FRB

17 February 2008 Source: Philadelphia FRB

18 March 2008 Source: Philadelphia FRB

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21 Recent Events & Announcements The Good…. Micron Selects Boise for 300mm Process Micron Selects Boise for 300mm Process Areva Selects Idaho Falls for Uranium Enrichment Areva Selects Idaho Falls for Uranium Enrichment Hoku Scientific Selects Pocatello for Polysilicon Plant Hoku Scientific Selects Pocatello for Polysilicon Plant Nordic Windpower Selects Pocatello for Turbine Plant Nordic Windpower Selects Pocatello for Turbine Plant The Not So Good…. Tamarack Resort Bankrupcy & Foreclosure Tamarack Resort Bankrupcy & Foreclosure AMI Semi Sold to ON Semiconductor, Layoffs Announced AMI Semi Sold to ON Semiconductor, Layoffs Announced HP – Will “Rebalance” Imaging & Printing Division HP – Will “Rebalance” Imaging & Printing Division St Alphonsus Regional Medical Center Layoffs, Etc St Alphonsus Regional Medical Center Layoffs, Etc

22 General Observations… Weak Dollar Weak Dollar  Largely positive for Idaho producers  Canadians ♥ Coeur d’Alene High Energy Prices High Energy Prices  Broadly adverse – farmers, truckers, drivers, government, et al… (is anyone not impacted?)  Some positives for related manufacturing (uranium reprocessing, wind turbines, etc) High Commodity Prices High Commodity Prices  Farmers benefit (but input inflation worrisome)  Mining activity up (north, central, southeast) House Price & Mortgage Crisis House Price & Mortgage Crisis  Idaho exposed, but to lesser degree (smaller price run up, fewer foreclosures)  Nonresidential strength helping offset residential hits  Broader impacts felt nonetheless, e.g. Tamarack Snowpack At/Above Normal Snowpack At/Above Normal  Farmers relieved (but deeper problems will persist)  Big Runoff = Great Boating Season (but could also fuel big fire season)

23 Thank You! For more information, visit: http://dfm.idaho.gov/Publications/Econ_Publications.html

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