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23 rd Annual Southern California Visitor Industry Outlook Conference Economic Outlook

23 rd Annual Southern California Visitor Industry Outlook Conference Economic Outlook. Kimberly Ritter-Martinez Associate Economist The Kyser Center for Economic Research LAEDC . U.S. Economic Growth. Q/Q %Change (Annual Rate). Sources: Bureau of Economic Analysis.

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23 rd Annual Southern California Visitor Industry Outlook Conference Economic Outlook

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  1. 23rd Annual Southern California Visitor Industry Outlook ConferenceEconomic Outlook

    Kimberly Ritter-Martinez Associate Economist The Kyser Center for Economic Research LAEDC
  2. U.S. Economic Growth Q/Q %Change (Annual Rate) Sources: Bureau of Economic Analysis
  3. Jobless Rates -- Still Too High Percent Unemployed (SA) Annual %Change California 11.9% Los Angeles 12.4% Orange 8.6% San Diego 9.7% Sources: BLS, CA EDD
  4. U.S. Retail Sales Source: U.S. Census Bureau
  5. U.S. Housing Starts Thousands of Homes 2078 1949 1848 1812 1355 906 740 574 554 Source: U.S. Census Bureau
  6. Personal Income & the Saving Rate Source: U.S. Department of Commerce, Bureau of Economic Analysis (BEA)
  7. Nondefense Capital Goods Shipments Source: U.S. Census Bureau
  8. Pre-Tax Corporate Profits With Inventory & Capital Consumption Adjustments Source: Bureau of Economic Analysis (BEA), U.S. Department of Commerce
  9. California Gas & Diesel Prices Source: Energy Information Agency
  10. Domestic Feeder Markets Source: LA Inc, BLS, BEA, CA EDD
  11. Mexico GDP Growth % Change in Real GDP, Year-Over-Year Mexican Visitors to CA 2010 376,000 (air arrivals) Up 9.0% over 2009 22.4% share of total to US Source: IMF, World Economic Outlook, LA Inc., Visit California
  12. Canada GDP Growth % Change in Real GDP, Year-Over-Year Canadian Visitors to CA 2010 1,355,900 – Up 13.0% over 2009 6.8% share of total to US Source: IMF, World Economic Outlook, LA Inc., Visit California
  13. U.K. GDP Growth % Change in Real GDP, Year-Over-Year U.K. Visitors to CA 2010 683,000 - up 3.0% over 2009 17.7% share of total to US Source: IMF, World Economic Outlook, LA Inc., Visit California
  14. Japan GDP Growth % Change in Real GDP, Year-Over-Year Japanese Visitors to CA 2010 545,000 – Up 19.0% over 2009 16.1% share of total to US Source: IMF, World Economic Outlook, LA Inc., Visit California
  15. China GDP Growth % Change in Real GDP, Year-Over-Year Chinese Visitors to CA 2010 399,000 (excl. Hong Kong) Up 49.0% over 2009 48.8% share of total to US Source: IMF, World Economic Outlook, LA Inc., Visit California
  16. Australia GDP Growth % Change in Real GDP, Year-Over-Year Australian Visitors to CA 2010 502,000 - Up 33.0% over 2009 55.5% share of total to US Source: IMF, World Economic Outlook, LA Inc., Visit California
  17. VALUE OF U.S. DOLLAR SINCE 2000 Index (2000 = 100) Source: Federal Reserve Board G5
  18. In Summary: Slow rate of job creation Financial market fragility Housing & real estate are troubled. State/local government budgets are problematic. BUT. . . The economic recovery is real - it is not as strong as we initially thought, but it is still largely intact. Tourism, technology, trade, & entertainmentare leading the way in California. Labor markets will improve.
  19. Wrap Up Travel & Tourism has Outperformed U.S. Economy during recovery Weaker Growth at Home & Abroad will Slow Tourism Expansion in 2012 U.S Consumers Face Constraints International Market Remains a Bright Spot
  20. THANK YOU For Further Insight into the Local Economy find our Mid-Year Economic Forecast & Industry Outlook online at www.LAEDC.org/reports • Keep up with economic news and major developments by subscribing to e-EDGE, our free weekly economic newsletter. Check out the current issue at www.LAEDC.org/eEdge
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