L.A. and California Economy Strong, But Might Take Small Hit from Coronavirus | Califor... - 0 views
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California’s gross domestic product is forecasted to grow 2.0 percent in 2020 and 1.6 percent in 2021, according to the forecast. Los Angeles County’s gross domestic product is forecasted to grow 1.8 percent in 2020 and slow down to 1.6 percent in 2021. The 10-county Southern California region is forecasted to grow at 1.8 percent over the next two years.
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The economies of Los Angeles County and California have a lot to celebrate, according to speakers at the LAEDC’s forecast-release event, which was held at the Sheraton Grand Los Angeles at The Bloc retail center in downtown Los Angeles. California ranks as the number-one region for investment in new and emerging companies, according to figures that the LAEDC quoted from the Dow Jones VentureSource website.
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The coronavirus will probably cause pain for the California and Los Angeles economies, mostly in the short term, said Stephen Cheung, executive vice president of the LAEDC and president of the World Trade Center Los Angeles.
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