World Trade, High Tech Helping Boost O.C. Growth

Cal State Fullerton’s annual economic forecast will be released one week from today, and all indications point to another upbeat assessment of Orange County’s economy.

“Given the very healthy state of the national economy at this time, Orange County is certainly benefiting from that,” said Anil K. Puri, director of the university’s Institute for Economic and Environmental Studies, who will be presenting the forecast. “We are well on our way to a long-term growth path.”

A national recession or a hike in interest rates could put a damper on that scenario, Puri said. There are also concerns, he said, that a continued tight labor market in Orange County could begin to damage the competitiveness of local businesses if they can’t find enough skilled workers.

Nonetheless, Puri is optimistic about the county’s prospects over the next few years. In particular, he sees strong high-tech markets and international trade helping boost growth for the foreseeable future.

Puri’s forecast is closely followed by local businesses and governments, which use the data for long-range planning. “Nobody remembers what all the numbers are all the time,” he said. “But they do develop a sense of what the future is going to be like for their industry, and when they make their budgets and expansion plans for the next five years, they do use the numbers.”

Patrice Apodaca covers economic issues for The Times. She can be reached at (714) 966-5979 and at patrice.apodaca@latimes.com