Significant Economic Growth Years Away

LOS ANGELES-Forecast LA, a Los Angeles economic report from Beacon Economics and Thomas and Dorothy Leavey Center for the Study of Los Angeles at Loyola Marymount University, shows a slowly improving Los Angeles economy. In 2014 and 2015, the report predicts steady growth; however, it will be several years before we see major economic growth.

This news may not come as a surprise to many Los Angeles residents. According to Fernando Guerra, LMU political science and Chicano studies professor and director of the Dorothy Leavey Center, “Angelenos have a pretty strong sense of the economic realities facing our region, and they expect things to improve this year. They still remember the negative effects of the recent downturn, of course, and that may be why respondents in our survey say significant economic growth is still several years away.”