Indiana's economy expected to grow slightly faster in 2016

INDIANAPOLIS (AP) — Indiana University economists are projecting that Indiana’s economy will grow at a slightly faster rate next year and into 2017.

Indiana has trailed the nation in gross domestic product growth during three of the past four years.

But the Kelley School of Business panel’s annual economic forecast released Thursday projects that the state’s GDP will grow at a slightly faster rate into 2017 thanks to Indiana’s status as a manufacturer.

Indiana Business Research Center research director Timothy Slaper says strong demand for industrial machinery and automobiles could boost Indiana’s economy next year.

Indiana’s unemployment rate fell to an estimated 4.5 percent in September. But Slaper says it’s expected to continue dropping until it’s significantly below the “go-go” times of July 2007, when it fell to 4.5 percent.

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