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Resources from 2014 Forecast LA Conference

Publication date: 
Saturday, March 1, 2014

International & U.S. Economic Forecast take-aways:

• Economy saw solid acceleration in the second half of the year.
• The global economy is gaining traction.
• California is still in the growth mix, drought and all.
• Interest rates are still very low, residential markets have cooled but not turned.
• Bank credit remains tight. However, consumers are still not saving enough.
• 2014 will still be better than 2013—exports are moving forward
• The economy is still improving
• The nation has a very active lending market.
• California unemployment rate is dropping .

Budget Outlook:

• Proposition 30 is temporary
• Exports grew
• The overall numbers point to greater growth

Challenges on the state level:

• Excessive housing costs
• Traffic
• Local budgets need work
• Structural government issues (i.e. Pension and Healthcare)

Big Themes for 2014:

• Consumers are continuing to spend.
• Tourism is stimulating our economy.
• Housing recovery will rebound by the end of the year.