In terms of economic output growth
Happy days are here again in the San Fernando Valley.
Forecasts to be released Friday at a a business summit in Burbank reveal that the Valley’s economy will outperform the county, state and nation next year in terms of economic output growth, according to the Los Angeles Daily News.
Furthermore, the economies of the Valley and the state will continue to grow, albeit slowly, over the next few years, the study says.
William W. Roberts, director of Cal State Northridge’s San Fernando Valley Economic Research Center, predicts that the Valley’s economic output will grow by about 4 percent to 4.5 percent from the current fourth quarter through the end of 2014, the Daily News reports.
Meanwhile, the rest of Los Angeles County is estimated to grow at a 3.1 percent clip. How about the rest of California? The state’s economy is actually expected to shrink by a percentage point during that timespan.
“California is not going to perform as well because of the drought and continued problems in the Central Valley,” Roberts told the newspaper. “That’s going to take a toll on California relative to the U.S. economy, and it will take awhile for us to recover from the lack of rain.”