Northwood University Experts Predict Slow U.S., Global Economic Growth in 2016

Fifth annual forecast examines GDP, inflation and interest rates, unemployment at home and abroad; Cites possibility of market-oriented tax reform on the horizon

Jan 18, 2016, 13:18 ET from Northwood University

MIDLAND, Mich., Jan. 18, 2016 /PRNewswire/ -- Key economic indicators from 2015 – growth at a slowed pace that brought a mix of concern, optimism and apprehension throughout the year – lead a public policy expert and an economic expert to believe growth in 2016 will continue to creep along throughout the New Year.

Keith A. Pretty, president and CEO, and Timothy G. Nash, senior vice president and the director of the McNair Center for the Advancement of Free Enterprise and Entrepreneurship, at Northwood University in Midland, Michigan, examine the current state of the global economy and factors that will trickle down to U.S. economic movement throughout 2016 in their annual Economic Predictions white paper. The report is available at the university's virtual Free Market Library.

The report features predictions on U.S. GDP, global GDP, employment rates, inflation and interest rates, European austerity measures, Middle East and Asian influence and more. Where applicable, the whitepaper also makes comparisons between these new predictions and those the authors made in 2015. They also make a big prediction in regards to oil prices in the coming year.

Outside of a hard examination of economics, Pretty and Nash also take a look at the United States' current political landscape in their forecast.

"We predict that the fall 2016 general election will bring a pro-business leader to the White House – one who truly can work with Congress to bring about market-oriented tax reform," Nash says. "This includes a long-term model to balance the federal budget and drive GDP growth to between 3 and 4.5 percent consistently on an annualized basis."

For a more in-depth look at Pretty and Nash's 2016 economic predictions, download the whitepaper at

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Northwood University is committed to the most personal attention to prepare students for success in their careers and in their communities; it promotes critical thinking skills, personal effectiveness, and the importance of ethics, individual freedom and responsibility.

Private, nonprofit, and accredited, Northwood University specializes in managerial and entrepreneurial education at a full-service, residential campus located in mid-Michigan. Adult Degree Programs are available in seven states with many course delivery options including online. The DeVos Graduate School offers day, evening, and weekend programming in Michigan and Texas. The Michigan-based Alden B. Dow Center for Creativity and Enterprise provides system-wide expertise in family enterprise, entrepreneurship, creativity and innovation, and new business development. International education is offered through study abroad and in Program Centers in Switzerland, China (Changchun and Wuxi), Malaysia and Sri Lanka.     

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