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Economic Forecasts

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BUSINESS
January 14, 1998 | DON LEE, TIMES STAFF WRITER
In the latest economic forecast, Chapman University economists Tuesday predicted that Los Angeles County will create about 77,000 nonfarm payroll jobs this year, growing by 2% from 1997. Chapman analysts say taxable sales in the county should increase by 4.7%, about the same as in 1997. They note, significantly, that Los Angeles County is a more affordable place today, with lower mortgage rates, higher income growth and lower housing prices.
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BUSINESS
November 19, 2013 | By Jim Puzzanghera
WASHINGTON - A leading international group on Tuesday cut its forecast for global economic growth through next year, warning that fiscal and monetary policy decisions looming in the U.S. could derail the recovery. The Organization for Economic Cooperation and Development said world economic output would expand 2.7% this year and 3.6% in 2014. Those figures are down from the group's May forecast of 3.1% growth this year and 4% next year. The forecast for U.S. growth also was cut, to 1.7% this year from May's 1.8%.
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BUSINESS
November 28, 1997 | Patrice Apodaca
Chapman University's annual economic forecast will be presented Thursday, including its one-year and five-year outlooks for Orange County and the nation. Chapman's is the most closely followed of a handful of economic reports in the county, and it is well-known for its accuracy in predicting growth. Last year's Chapman forecast found little to fault in the Orange County economy, and its midyear revision was even more upbeat. So now the question is: Will the expansion hold up in 1998?
BUSINESS
August 12, 2013 | By Shan Li
Gold futures jumped higher Monday as the dollar fell in value, but concerns that the Federal Reserve may taper off its monetary stimulus may push prices down. Gold futures for December jumped $22 to $1,344.30 on midday trading Monday, on track for a fourth day of consecutive gains. Gold has been boosted of late by data showing that U.S. wholesale inventories fell unexpectedly for a second straight month in June, which pushed economists to lower their estimates for second-quarter economic growth.
BUSINESS
June 23, 2011 | By Don Lee, Los Angeles Times
Amid increasing political pressure and turbulent financial conditions in the world economy, the Federal Reserve is letting its massive bond-buying stimulus program expire in the next few days without a new initiative to prop up the weak American recovery. The central bank is betting that, even without additional monetary or fiscal stimulus, U.S. economic growth will pick up sharply in the latter part of the year after a disappointing first half. But in adopting a kind of wait-and-see policy, the Fed faces increasing risk of antagonizing politicians from the right and the left, as well as investors.
BUSINESS
January 1, 1991 | DANIEL AKST
It's New Year's Day, and everyone wants to know what's ahead. Shall we call Chase Econometrics or badger Henry Kaufman? Don't be silly. California is just crawling with psychics. Better yet, they have fax machines. They work at this full time, and their clients include entrepreneurs, investors and movie stars. Why should we be any different? Thus, in honor of the New Year I've impaneled the first Times Board of Psychics in order to bring readers crucial business news of the future.
BUSINESS
December 31, 1989 | JAMES FLANIGAN
The head of one of America's largest companies was very gloomy in a private luncheon conversation recently--but only about 1990 prospects for other companies, not his own, which he said was doing quite well, especially in foreign markets. Similarly, a survey of 50 leading economists by Business Week magazine found that almost all of them worried about a recession--but few predicted one.
NEWS
February 16, 1986 | Associated Press
President Reagan's assertion that his budget proposals would lead to a surplus by fiscal 1991 requires rosy economic assumptions that history shows are extremely unlikely to prove true, the Joint Economic Committee of Congress said in a report released Saturday. "The record is not encouraging--it raises serious doubts about whether, under current and proposed policies, we will achieve a balanced budget by fiscal year 1991," the report, written by committee economist Paul Manchester, said.
BUSINESS
August 3, 1988 | Associated Press
The dollar rose Tuesday against most major currencies after the government released a triple dose of strong economic data, including a report forecasting solid growth for the rest of the year. Gold prices slipped, however. Republic National Bank of New York quoted a bid for gold at $431.50 an ounce as of 4 p.m. EDT, down $3 from late Monday.
CALIFORNIA | LOCAL
October 28, 1997
The South Bay needs to redevelop industrial manufacturing sites for new business and be prepared for more downsizing in the aerospace industry to survive the future, according to a study to be unveiled Thursday at the 1997 South Bay Economic Forecast Conference in Torrance.
BUSINESS
July 9, 2013 | By Jim Puzzanghera
WASHINGTON -- The International Monetary Fund on Tuesday lowered its forecast for U.S. and global economic growth this year, citing the European recession and reduced demand worldwide. The world economy will grow 3.1% this year, the IMF said, down from its April projection of 3.3%. Growth also will be slower in 2014 -- 3.8% compared with an earlier 4% forecast. The U.S. economy will grow 1.7% this year and 2.7% next year, both down 0.2 percentage points from the organization's April World Economic Outlook forecast.
CALIFORNIA | LOCAL
May 22, 2013 | By Anthony York
Gov. Jerry Brown, who is known to break out the occasional Latin phrase during stump speeches and news conferences, said he liked the language because “it's obscure and makes you smarter than everybody.” The quip came during a free-flowing speech to about 1,000 state business leaders and others at a breakfast hosted by the  California Chamber of Commerce that also covered Brown's rebellious youth, his wife's management of his career, his...
BUSINESS
April 26, 2013 | By Ricardo Lopez, Los Angeles Times
The gig: Christopher Thornberg is founding partner of Beacon Economics, a Los Angeles-based economics consulting firm. Since its founding in 2007, Beacon has provided economic analysis and forecasting for cities, counties and corporate clients. He also worked as chief economic advisor to the state Controller's Office from 2008 to 2012. While he was at the UCLA Anderson Forecast, he began sounding the alarm about an impending housing market crash - and the ensuing recession.
BUSINESS
July 24, 2012 | By Ricardo Lopez
Shipping giant UPS lowered its economic outlook for the rest of the year as the slowing global economy is expected to reduce demand for the company's logistics services, executives said Tuesday. In a conference call with investors, United Parcel Service Inc.'s chief executive Scott Davis said that the slowdown in China's economy and the European debt crisis led to the company's lowered economic projections. "Economies around the world are showing signs of weakening, and our customers are increasingly nervous," Davis said.  Davis also said that the U.S. economy has shown recent signs of weakening as well: the past three months have shown slowed job gains, retail spending is down and the manufacturing sector has also softened.
BUSINESS
June 20, 2012 | By Jim Puzzanghera, Los Angeles Times
WASHINGTON - As Europe's problems dragged down the Federal Reserve's economic outlook for the U.S., the central bank took a modest step to boost the lagging recovery - and signaled it was ready to do more. "We are hoping for the best," Fed Chairman Ben S. Bernanke said Wednesday of attempts by European leaders to ease their debt crisis. "But we are prepared, in case things get worse, to protect the U.S. economy and the U.S. financial system. " The Fed, worried about a spillover from Europe, sharply lowered its forecast for economic growth in the U.S. this year and projected that unemployment could remain near 8% through 2014.
BUSINESS
April 12, 2012 | By Don Lee
Economists sharply raised their forecast for first-quarter economic growth after news of an unexpectedly big drop in the nation's trade deficit in February. The Commerce Department reported Thursday the trade deficit narrowed in February to $46 billion from $52.5 billion in January. Most of the decline was due to a sharper-than-expected 2.7% falloff in imports, much of that from China. U.S. exports in February was up a tiny 0.1%. Analysts said the trade gap was likely to turn up in March as Chinese production and shipments resumed after the Lunar New Year holiday in February.
BUSINESS
August 5, 1992 | From Times Wire Services
The government's chief economic forecasting gauge fell in June for the first time in six months, the Commerce Department said Tuesday, signaling that the economy is likely to stay wobbly beyond the November election. The index of leading indicators, designed to predict economic activity six to nine months in advance, dropped 0.2% in June. It was the first fall in the index since it declined 0.1% in December and the worst since January, 1991. The drop followed gains of 0.6% in May and 0.
NEWS
November 21, 1997 | From Associated Press
More Californians have jobs, fewer are on welfare and the state's economy is surging--a rosy picture that should last at least for the next couple of years, the Legislature's top fiscal advisor said Thursday. Legislative analyst Elizabeth Hill said California's budget will remain in balance, despite tax cuts and the boost in spending that will probably accompany the expanding revenues.
BUSINESS
February 15, 2012 | By Marc Lifsher, Los Angeles Times
Things are looking up for California's beleaguered economy as the recovery from the recession hits a period of slow, modest growth this year and next, according to two economic reports. Over the next two years, the state is poised to add nearly half a million jobs and drive the current 11.1% unemployment rate down to nearly 10%, the Los Angeles County Economic Development Corp. said in an annual forecast scheduled to be released Wednesday. And on Tuesday, financial rating company Standard & Poor's upgraded its outlook on California's ability to repay its debts to "positive" from "stable.
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