O.C. Economic Outlook Brightens

Chapman University’s Center for Economic Research has updated its economic forecast for Orange County in 1994. There are signs of improvement for taxable sales, job growth and construction activity. The Consumer Price Index for the region is slightly up.

Employment Levels

Employment is expected to increase by nearly 10,000 jobs. Percentage change:

1994: 0.9

Taxable Sales

Consumption is expected to make its biggest increase leap up since falling sharply in 1991. Percentage change:

1994: 3.7

Building-Permit Values

The overall value of building permits issued in Orange County is expected to increase dramatically this year, due in large part to an upswing in residential-permit values. Percentage change of the value of building permits issued, including alterations and additions:

1994: 17.8

Consumer Price Index

The regional Consumer Price Index for Los Angeles, Orange and Riverside counties shows prices increasing slightly over 1993, but still less than 1989-1992. The index is a statistical average of consumer spending for goods and services such as housing, food, transportation, health care and other items. Percentage change:

1994: 2.4

*

Note: All 1994 figures are estimates.

Source: Center for Economic Research, Chapman University