UCLA Anderson Forecast for California and the Nation
https://www.anderson.ucla.edu/centers/ucla-anderson-forecast/december-2020-economic-outlook
The UCLA Anderson forecast sees slow growth for this quarter (1.2%) and next (1.8%), followed by robust (6%) spring growth as vaccinations become widespread. California’s recovery will be slightly slower and more robust than the nation’s. The key questions are how we make it until spring since the impacts are and will be very, very severe for low wage workforces.
The worst hit sectors are those with human-to-human interactions: Hospitality and Leisure, Education and Retail (in stores). The best performing sectors will be: technology, residential construction and logistics. California will be particularly hurt in tourist industries (particularly foreign tourism) and particularly advantaged in the tech sector. California should come back strong due in part to its embrace of mask wearing and other public health preventive measures. The service sector should have a strong rebound as we all are missing the human interactions it provides.
So wear the damned mask, get your shots as soon as you are eligible, and stay safe, especially over the holidays.
Prepared by: Lucien Wulsin
Dated: 12/14/20