Dallas Federal Reserve Bank's Harvey Rosenblum Sees Positive Economic Outlook for Texas and Dallas-Fort Worth in 2007.

DALLAS -- The Dallas-Fort Worth Chapter of the American Marketing Association (AMA) recently hosted Harvey Rosenblum, executive vice president and director of research for the Federal Reserve Bank of Dallas at a luncheon at Brookhaven Country Club. Mr. Rosenblum, an economic advisor to the President and associate economist for Federal Open Market Committee, offered a positive economic outlook, for both Texas and the nation.

"The national economy is likely to grow at a healthy rate through 2008," Mr. Rosenblum stated, "slowed only by nagging factors such as a shortage of qualified workers, especially for highly skilled jobs. Gross Domestic Product (GDP) growth will increase to 3 percent or more in 2007 and 2008," he said, "while strong global markets continue to buoy the U.S. economy."

The inflation rate, which peaked last summer and then declined, is expected to remain contained in the near term, according to Rosenblum.

"This bodes well for consumer spending, as long as housing and gas prices remain affordable," he said. "The housing industry is a wild card," Rosenblum continued, and indications are that the housing correction will continue throughout 2007. Positive trends," Rosenblum added, "include very low unemployment and easy access to capital, which will encourage business growth. Recession worries, according to Federal Reserve Bank wisdom, are not on the short-term horizon at the Bank."

"The Texas economy, which has historically outperformed the national economy with the exception of the recession from 2001-2003, will not disappoint in 2007," said Rosenblum. "Growth spots around the state include Houston, Austin, San Antonio and, most notably, El Paso. Texas and other states are benefiting from an exodus from California," he said, "which has been caused by high housing costs in that state. A positive outcome of the technology bust in Dallas," he said, "is a more diverse economy that will serve the city well going forward."

The next DFW AMA Executive Luncheon events will feature "Success in Research Marketing," a panel discussion moderated by Merrill DuBrow, President and CEO of M/A/R/C Research. Program details and online registration are available at: www.dfwama.com or by calling the DFW AMA office at [phone].

The Dallas-Fort Worth Chapter of the American Marketing Association has nearly 700 members across the Metroplex and is among the largest of 73 professional chapters in the US. The local chapter hosts monthly forums for marketing and business professionals through its Executive Luncheon Series in both Dallas and Fort Worth that feature speakers from companies such as American Airlines, Frito-Lay, Sabre Holdings, Dean Foods, Texas Instruments, Xerox, Williamson-Dickie, Nokia, Mary Kay, Monster.com, Countrywide Financial, Omnicom and other Fortune[R] 500 concerns. To learn more, go to: www.dfwama.com.

The American Marketing Association (AMA) is one of the largest professional associations for business and consumer marketers, marketing educators and students with more than 38,000 members worldwide in every area of marketing. For over six decades, the AMA has been the leading source for information, knowledge sharing and development in the marketing profession. To learn more about the AMA nationally, go to www.marketingpower.org.