Video: Michael Pakko Says More Slow Growth Ahead, No Matter Who Wins Election

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Video: Michael Pakko Says More Slow Growth Ahead, No Matter Who Wins Election

by Mark Carter on Tuesday, Oct. 30, 2012 2:20 pm

Economist Michael Pakko told attendees at the 2012 UALR Economic Forecast Luncheon that the economy is recovering, albeit very slowly. (Photo by Jason Burt)

Chris Varvares, senior managing director and co-founder of Macroeconomic Advisors in St. Louis, delivered a national economic outlook to open the conference. It didn't differ much from Pakko's state forecast.

Varvares' U.S. forecast is "cautiously optimistic."

"The darkest days are behind us," he said. "We're on an upward trajectory. I do expect the economy to improve."

Risk taking is coming back slowly, he said, and "that's the key to economic growth."

Varvares said that in terms of economic growth, less of a negative is positive, and that's what he sees ahead nationally. He forecast the S&P to hit 1750 by the end of 2014 and advised stocks over bonds.

"The risk is to the upside," Varvares said.

See Pakko's full presentation at his blog, ArkansasEconomist.com.