On Wednesday, February 14, 2018, PICA hosted a meeting of regional economists, representatives of the City of Philadelphia, and general stakeholders, at the Federal Reserve Bank of Philadelphia.
Representatives from IHS Markit, the City’s economic forecasting consultant, presented the structure of their economic model and major forecast assumptions. Anna Adams, the City’s Budget Director, followed with a presentation on preliminary revenue growth forecasts for fiscal years 2019-2023. You can access their presentations below.
The purpose of this meeting was to garner feedback from attendees on the City’s economic growth and revenue projections along with insight into the local economy. This feedback is particularly important to the City in preparing revenue estimates for its proposed Five-Year Financial Plan for Fiscal Years 2019-2022.