In a recent forecast from the Los Angeles County Economic Development Corporation, both California and Los Angeles County are expected to witness consistent economic growth over the upcoming two years. However, emerging challenges, including the potential economic repercussions of the coronavirus outbreak and longstanding issues like housing affordability and the high cost of living in Los Angeles, could pose threats to this growth trajectory. While the state stands as a leading region for new investments and commercial real estate, uncertainties in the global supply chain, especially in the fashion and apparel sector, might reshape business strategies and global dynamics in the near future.
L.A. and California Economy Strong, But Might Take Small Hit from Coronavirus
