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Economist: Indiana GDP Will Be Higher Than US In 2014

Indiana's GDP is expected to grow 2.2 percent next year, compared to between 1.9 percent and 2.1 for the U.S.

Uncertainty in healthcare costs are expected to contribute to decreased revenues in the healthcare industry.

Photo: Flickr (401(K) 2013)

Uncertainty in healthcare costs are expected to contribute to decreased revenues in the healthcare industry.

Ball State University economist Michael Hicks predicts a small amount of economic growth for both the US and Indiana in 2014.

Hicks says the U.S. gross domestic product, the value of all goods and services we produce, will grow between 1.9 percent and 2.1 percent in 2014.

Indiana will do slightly better than the country, growing 2.2 percent next year.

For families who are planning financially for the next year, Hicks says uncertainty about healthcare coverage will be the biggest thing to watch for.

“The big story always for 2014 is going to be ‘what’s going to happen to your healthcare costs?’” he says. “So, if you’re my household or anybody else, you really have to think about what’s going to happen to premiums, what’s going to happen to deductibles, how much can I spend this holiday season in preparation for that.”

The uncertainty with healthcare coverage means that Hicks is forecasting negative growth in the healthcare industry next year – a sector that makes up 20 percent of Indiana’s economy.

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