the PRIVATE BANK of CALIFORNIA

Annual Economic Forecast Conference

Economists have Optimistic Outlook for 2013 

11.02.12

The 18^th Annual Economic Forecast Conference, sponsored by California State University Fullerton’s Mihaylo College of Business and Economics and the Orange County Business Council, took place last week at the Hyatt Regency in Irvine.  The annual meeting welcomed almost 900 attendees, including top business leaders from across the nation as well as leaders in academics and local government.  The conference was led by economists Anil Puri, Dean of Mihaylo College of Business and Economics, Mira Farka, Co-director of the college's Institute for Economic and Environmental Studies, and Andrew J. Cecere, Vice Chairman and Chief Financial Officer of U.S. Bancorp. 

The Economic Forecast is the first of several reports that will be released over the next few months as various institutions and economists measure the business landscape locally and nationally.  The conference speakers discussed the outlook on housing, jobs, financials, and consumer markets, all of which are showing progress, albeit some markets slower than the others.  Of those markets, Puri said the travel and leisure industry has held its own, especially throughout Southern California and specifically Orange County.  The slow growth of the housing market, according to Puri, is also a positive sign the economy is picking up some steam.  Consumers are continuing to grow confidence due to improving their own balance sheets, by shedding debt and access to low interest rates.     

Although the economy, overall, seems to be on the mend, there is still a lot of work to be done and the future of our local and national economy is still unclear. 

To read the the full report, click Here.