University of Pittsburgh
December 20, 1998

1999 ECONOMY TO SHAKE, RATTLE AND ROAR

Contact: 

Sharon Blake

412-624-4364

Cell: 412-277-6926

PITTSBURGH, Dec. 21 -- Does the dawning of the 21st century economy mean that we have seen our last recession? The answer is a clear "no," according to Reuben E. Slesinger, professor emeritus of economics at the University of Pittsburgh.

Slesinger addresses these issues and others in his annual economic forecast, "1999: Lots of Shaking, Some Rattling, and a Little Roaring," on Sunday, Jan. 3, 1999 at 9:30 a.m. at the Tree of Life Synagogue at Wilkins and Shady Avenues, Squirrel Hill. The presentation is open to the public and includes a free breakfast. A second presentation is scheduled for Jan. 10 at 7 p.m. following a buffet dinner at the University Club, 123 University Place, Oakland. Dinner is at 5:30 p.m. and reservations are required.

Slesinger, who has delivered an annual economic outlook address for more than 30 years, says the dominant characteristic of 1999 is going to be uncertainty, given the volatility of the stock market and turmoil in financial markets overseas. He predicts the gross domestic product, estimated to be $8.4 trillion for 1998, will surge to $8.8 trillion next year. In addition, he says the 4.5 percent unemployment rate will increase slightly to 4.8 percent and the stock market will hover around 9600.

Copies of Slesinger's report will be available at his presentations or through Sharon Blake at 412-624-4364.

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