10/23/2020

California Economy is Projected to Grow Faster than US Through 2020

California’s economic growth will continue to outpace the rest of the nation over the next five years, according to a new forecast, though the expansion is expected to slow after next year.

Despite recent turmoil in the financial markets and slowing growth in China, the Los Angeles County Economic Development Corp.’s annual forecast predicted continued job growth and economic output in the state through 2020.

Job gains next year will continue to be driven by growth in construction, professional and technical services, and transportation and warehousing tied to international trade, the report found.

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