Ball State Economist Gloomy On Indiana Economy

MUNCIE, Ind. (WOWO): An Indiana economist says the nation may be inching closer to another recession. 

This follows word that the U.S. economy shrank by 0.7% in the first quarter of 2015. The decline in economic output is a reversal of the initial Commerce Department report that showed the economy grew by 0.2% during the same time period. 

Ball State University‘s Dr. Mike Hicks says the rest of the world has slipped into recession and that‘s affecting the U.S. economy. He says the current recovery is now the second longest economic recovery since 1900. 

Hicks says the nation is probably closer to the next recession than the last one. He says household living standards and the number of people working still aren‘t rising as they should at this point. 

He says the nation should be seeing growth of about 3.5% instead of declines.