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Swonk Discusses Current Economic Challenges

CHICAGO-Diane Swonk, nationally known economist for Mesirow Financial, muses on the economy at a recent CREW luncheon.

By Bonnie Grota | Updated on June 15, 2006

CHICAGO-Diane Swonk, senior managing director and chief economist for Mesirow Financial, recently addressed a luncheon meeting jointly hosted by Chicago Commercial Real Estate Executive Women (CREW) and Chicago NAIOP. Swonk, with almost 20 years of local experience as an economist, mused on various themes impacting the economy, both locally and nationally.

A major issue to this economy, Swonk said, is the current version of an energy crisis. Prices for gasoline and heating fuels are eating a higher share of household budgets. “That means for many, going to Target rather than Fields; renting DVDs rather than going to the theatre and ordering delivery rather than going out to eat,” she said.

Swonk finds that with the housing market slowing down, there will be less spending on residential investment. “Spending on household items had been holding up the economy for quite a while. Refinancing has declining as well.”

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