We gathered for our last KCMN meeting of 2023 on Tuesday, December 12! We had a great turnout and were joined by a lot of new faces. We enjoyed great discussion and an insightful 2024 Economic Forecast presented by Chris Kuehl with Armada Industries.
Presentation Highlights:
- Kansas has a state GDP comparable to Ukraine.
- Missouri has a state GDP comparable to Vietnam.
- Inflation is worse than a recession.
- Inflation is devastating for low-income people.
- Financially secure people’s money loses value.
4 Pillars of Growth in the current economic state:
- Consumer spending
- Nonresidential construction
- Government spending
- Inventory building
The U.S. is importing more from Mexico than China for the first time since 2003; due to prices in Mexico now being better than in China, and Mexico doesn’t have the transportation time and distance to get products to the U.S. that China does.
The U.S. accounts for 40% of the value for the global manufacturing sector.
The Kansas City metro benefits from not being a single-industry driven metro. Community doesn’t get hammered if an HQ leaves.
The full presentation can be viewed here.
