Slow, Steady Economic Growth Does Offer Advantages for State

Article excerpt

By Ronda Fears

Journal Record Staff Reporter

While slow, steady economic growth in Oklahoma may have become trite over the last three years, there is something to be said for the level of security it creates for current and potential investors, according to the General Business Index released Thursday.

A 3 percent expansion in the Oklahoma economy for second quarter vs. second quarter 1992 was posted in the report. That was the largest year-to-year gain since second quarter 1990 and the 11th consecutive quarterly increase, it was pointed out.

And while slow, steady growth is expected to continue in Oklahoma in the shadows of bleak forecasts for U.S. economic recovery, the report suggested there are things the state can target for expansion.

The report is generated by the University of Oklahoma Center for Economic Management Research and Southwestern Bell Telephone Co. It began 14 years ago. Chief author of the report is Bell's staff economist, Craig Knutson, in Oklahoma City.

Eleven straight quarterly gains _ the longest stretch in the report's history _ is significant because it signifies stability, thereby defying volatility, Knutson said in the report.

"It confirms the consistently `slow, steady growth' this state has been exhibiting for so long," he said. …