California exports continued to sputter in February.
The state’s merchandise exports had a total value of $12.13 billion in February, down nearly 3.5 percent from $12.55 billion a year earlier, according to a report from Beacon Economics, a consulting firm with offices in the Bay Area and Los Angeles.
Analysts said the February numbers, based on U.S. Commerce Department data, reflected slowing economies worldwide and falling prices, particularly in commodities.
Christopher Thornberg, founding partner of Beacon, noted: “National numbers show that the prices exporters are receiving for their goods have fallen by 7 percent. On that basis, real exports are up. But while volumes are steady, bottom lines are still being hurt by lower prices, particularly in a state that is as expensive to do business in as California.”View Article