L.A. & California Economy Strong, But Might Take Small Hit from Coronavirus

in Economy/Health

California and Los Angeles County are forecasted to enjoy moderate yet sustained growth throughout the next two years, according to a Los Angeles County Economic Development Corporation forecast released on Feb. 19. Production slowdowns over the coronavirus outbreak, as well as entrenched issues such as housing and the cost of living in Los Angeles, are threatening growth.

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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