Roundup: North Gate Fest returns / Rig count falls / New economic forecast 

    Fest: The 13th annual North Gate Fest is making its return to Chimes Street at the north gates of LSU on Friday, Oct. 25. The event features music and arts presented by the North Gates Merchants Association and runs from 4 to 11 p.m. 

    Drilling: The number of active oil and gas drilling rigs in the U.S. fell again for the seventh straight week, according to the Baker Hughes North America rig count. The U.S. had 855 oil and gas rigs in service last week, down from 1,052 a year ago. Louisiana lost one rig in the past week, but its 55-rig total is seven fewer than this same time last year. See the full report.  

    Forecast: The nation’s business economists think the ongoing trade war with China will contribute to a sharp slowdown in economic growth this year and next, raising concerns about a possible recession starting late next year. The latest survey by a panel of 51 forecasters with the National Association for Business Economics shows that economists expect growth, as measured by the gross domestic product, to slow to 2.3% this year from 2.9% in 2018. The new forecast marks a downgrade from the 2.6% estimate for 2019 economic growth that the NABE panel had made in June. Read the full story. 

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