November Indiana Economic Update 

2024-11-17 – BE&O A&B

Despite the success of its new weight loss drug Zepbound, Lilly’s recent earnings failed to meet expectations. 

Shares of Lilly took a hit as Q3 earnings didn’t satisfy Wall Street. With a total revenue of over $7.8 billion, an increase of 46% over the same period last year, market expectations were higher for the Indiana-based drug manufacturer.

Goldman Sachs has announced that it is bringing its business initiative program to Central Indiana. The program will help businesses with marketing, location growth, and adding revenue sources. Goldman Sachs will also utilize community partners to provide small business owners with advice on day-to-day operations.   

Duke Energy says it will reevaluate its decision to convert coal plants in Indiana to run on natural gas. Duke says the pace of the energy transition could be changing with the recent election results. 

Economists at Indiana University expect the Indiana economy to surge next year, fueled by manufacturing growth and lower interest rates. Combined with the lower cost of living, the economists say next year is very promising.