Sluggish 1994, Then Modest Growth
This year probably won’t be much of an improvement over 1993, but several key Orange County economic indicators are expected to turn upward again in 1995. Don’t look for the double-digit increases of the booming 1980s, however. Here’s how the local economy has fared since the lastrecession in 1981-82 and where the pundits expect it to go in the next five years.
Resale Housing
After four years of declines, the median price of an existing home should begin to rise again in 1995.
Taxable Sales
Consumer spending on taxable items from clothing and candy to new cars and television sets should mark its largest increase this year since 1989.
Job Creation
Local payrolls should begin to grow again this year after three years of big losses.
Building Permit Values
After years of decline, the estimated value of all new residential, commercial and industrial construction should slowly begin to increase this year.
Sources: Chapman University Center for Economic Research; California Assn. of Realtors; California Employment Development Department.
Researched by JOHN O’DELL / Los Angeles Times
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
