It may very well be a very good year for Chicago according to economists and experts.
Credit agency giant Moody’s, is expecting that the region's economic output should expand at 2.9 percent in the year ahead, slightly faster than the 2.6 percent pace set last year. The company is also estimating a healthier gain of nearly 3.8 percent in 2015.
In an interview with Crain’s Business Chicago, Moody’s Analytics, (the West Chester, Pa.-based economic research and forecasting arm of New York credit rating agency Moody's Corp) said, “Chicago's economy will grow the fastest in a decade in 2014. Chicago's recovery has strengthened and downside risk has decreased.”
Recovery will be seen and felt too although problems such as unemployment will be the biggest challenge, as in the rest of the country. Crain’s Business Chicago reported that “at the current pace, unemployment in the Chicago region will remain high at nearly 8.5 percent in 2014, down from last year's 9.2 percent average yet well above the projected 6.6 percent jobless rate for the nation, according to Moody's.”
What do experts think of Chicago’s economy in 2014?
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