Forecasting and studying economic indicators and their impact on the landscape and development industries was at the heart of a session chaired by Landscape Communications at the recently held Land Development Conference and Expo in Baltimore. Jim Lipot, MBA, manager of Landscape Communications?EUR??,,????'?????<

The December year-end issues of Landscape Architect and Specifier News and Landscape Contractor National both feature a variety of economic forecasts for the following year. These forecasts include housing starts, labor trends, real estate tendencies, interest rates and infrastructure development. According to Lipot, this type of data is crucial in the development industry.

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During the seminar, Lipot noted that the U.S. government offers a wealth of information that can be used as tools in forecasting business trends. Agencies on the federal level that have this information include: the Bureau of Economic Analysis, the Census Bureau, the Office of Federal Enterprise Oversight and the White House. The states also offer a wealth on information. ?EUR??,,????'?????<

Indicators used in forecasting within the development industry include: The Gross Domestic Product, domestic migration and immigration figures, interest rates, inflation rates and housing data. Lipot also listed common errors that are made when attempting to complete economic forecasts, including accepting that all information using statistics is true, a correct formula used once will automatically be correct in the future, and using old habits to evaluate new and changing data.

The most recent LASN and LCN Forecasts, published in the December 2003 editions of the magazines, can be viewed at www.landscapearchitect.com. In addition, the full text of Lipot?EUR??,,????'?????<

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