December 8, 2016
The UCLA Anderson Forecast revised its third quarter 2016 outlook to reflect its predictions for California’s economy under the the Donald Trump presidential administration. The report, first released before the presidential election, assumed Hillary Clinton would win.
Prognostications were updated for national, state and local economies. Key findings included:
Nationally, UCLA Anderson Forecast’s Senior Economist David Shulman said: “The net result of new policies would be a massive fiscal stimulus on an economy at or very close to full employment.”
In California, UCLA Anderson Forecast’s Senior Economist Jerry Nickelsburg said, “The increase in defense spending will be disproportionately directed to California, as sophisticated airplanes, weaponry, missiles and ships require the technology that is produced here. Moreover, there are few places to build the proposed 150 new warships, and San Diego is one of them. Regionally, we expect a positive impact in the Bay Area and in coastal Southern California.”
In Los Angeles, UCLA Anderson Forecast’s Economist William Yu noted that, with a positive outcome of the trade policy, an additional 24,000 jobs could be added to the logistics sector.
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