Indiana Business Research Center: Indiana University

Strong population growth continued in 2025; signs of slowdown on the horizon

For the third consecutive year, Boone and Hancock counties in the Indianapolis metro area were the state’s fastest-growing communities. Boone County set the pace once again in 2025 with a 2.6% growth rate, while Hancock County posted a 2.4% gain.

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Economic Forecasts

Our center provides 3 distinct economic forecast offerings: the BBKI acts as a monthly barometer of where the economy is and where it might be heading; CEMR produces forecasts for the nation, Indiana and Indiana metropolitan areas; and Futurecast offers annual economic outlook events around the state each fall.

BBKI indicates economic activity near trend in March

Line chart showing coincident and leading indexes

The economy continues to display a meaningful degree of resilience even amid an elevated level of uncertainty about the path forward. The latest release of the Brave-Butters-Kelley Indexes (BBKI) has the coincident indicator at -0.2 for March, a slight downtick from our estimate for February of 0.1.

View the latest BBKI release »

CEMR U.S. forecast for May is little changed

Line chart showing quarterly real output growth from 2026 to 2029

First quarter GDP components generated extreme movements in both directions. The net result came in below our expectation. Other economic data have been mixed, and non-economic events have been discouraging. None of this is significantly at odds with our expectations, and our forecast is little changed.

View the latest CEMR release »

Data Sites

Our databases power multiple websites that are data rich and full of information to explore.

STATS Indiana

Statistics for states, counties, cities and towns, townships, regions, census tracts and more.

StatsAmerica

Your portal to U.S. data supported by the U.S. Economic Development Administration

Hoosiers by the Numbers

Workforce data supported by the Indiana Department of Workforce Development

Indiana Gateway for Government Units

How taxes and other public dollars are budgeted and spent by Indiana's local units of government.

Indiana Economic Digest

Daily news from newspapers around the state focusing on hot business topics.

Publications

Easy-to-read analysis of Indiana’s economy

Substantive, easy-to-read articles about Indiana's workforce and economy published on a bi-monthly basis.

Visit InContext

Indiana's population estimates: Strong growth continues in 2025, but signs of slowdown on the horizon

March-April 2026

New population estimates show that 66 of Indiana's 92 counties grew in 2025, with 95% of the state's growth coming from the 44 Indiana counties that are part of a metropolitan area. Read article →

Economic insights for Indiana since 1926

Quarterly analysis and insight on Indiana’s economic and demographic issues.

Visit Indiana Business Review

Indiana's outlook for 2026

Winter 2025

Indiana's growth in real GDP is expected to hover close to 1% in 2026, while the state's unemployment rate is expected to rise from 3.6% to 4.4%. Read article →

Integrating real estate research and practice

Biannual analysis of the housing market through a joint initiative with IU's Center for Real Estate Studies.

Visit Kelley Real Estate Outlook

Are baby boomer homes the answer to housing affordability?

Spring 2026

While there is some truth to the idea that house turnover by baby boomers will release housing supply and ease affordability pressures, the effect will vary a lot across cities. Read article →

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