LOS ANGELES-Southern California’s trade with foreign countries will grow by less than 3% in 2001, a report released today says, after rising more than 16% last year.

The report was prepared by the LA County Economic Development Corp., a nonprofit group that tracks economic trends across the Southland and then tries to incorporate those trends into programs that stimulate more business. The report says two-way trade between the five-county Los Angeles Customs District and foreign nations will grow to $236.5 billion in 2001, a modest 2.8% gain from last year.

In 2000, trade jumped a staggering 16.7%. LAEDC chief economist Jack Kyser says the lower forecast for this year is the result of several factors, including a sluggish global economy, political problems in several Asian countries, and a strong US dollar that’s cutting the purchasing power of consumers and businesses overseas.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.