Columbus forecast 2023

Abstract

As a durable goods manufacturing-based economy, the Columbus metropolitan statistical area (MSA) experienced significant economic volatility in 2020 and 2021 due to global supply chain issues and fluctuations in consumer spending related to the pandemic. Columbus concluded 2021 with lower unemployment than 2020 and with slightly higher GDP. During 2022, the unemployment rate dropped below 2.0% on three occasions. Current expectations are for local economic output to increase during 2022 in light of vehicle production and sales projections. This article explores the 2022 data, as well as what is anticipated for 2023.