Chapman University Economic Forecast Update - Jul / Aug 12




In the January/February issue of the Plaza Review, we reported the findings of the 34th annual 2012 Chapman University Economic Forecast Update. The recently-released June 2012 Economic & Business Review covering the U.S., California and Orange County economic forecasts for 2012-13, revealed that for the most part, their predictions have come true.

According to the new report, which comes out of the University’s A. Gary Anderson Center for Economic Research, while they did not call for a recession in the December forecast, they did project relatively weak growth between two and three percent through 2012, and that has held steady. They also projected that consumer spending would stay strong enough to keep what they call a lethargic recovery moving along slowly, and that has also happened. As a result, they are not modifying their previous report.

Moving into 2013, the forecast is somewhat brighter. They believe that there will be a housing recovery and that the rate of foreclosures will continue to fall and that housing affordability will reach an all-time high. They also believe that housing prices will increase, causing a rise in household net worth. They do say, however, that this nascent recovery of housing will be tempered by what is happening globally in regards to the Eurozone weakness, which will affect the U.S economy.

The report also shows a slight decrease in unemployment and a continued rebound in construction, as well as overall job growth, which will lead to personal income growth and increased consumer spending.

Select to view Chapman University page.

Select to view 2012 Chapman Economic Forecast article.


Published in the Jul / Aug 12 edition of the Old Towne Orange Plaza Review

Article Written by Julie Bawden-Davis, photos provided by Chapman University

View More Articles

 


Brande Jackson (left), with sister Katie Jackson Guilino and brother Bryce Jackson. - - - - Thirty years ago on January 1, 1993, Sue Jackson opened Country Roads Antiques on the corner of West Chapm ... More

Miss Orange Scholarship Pageant  For more than 85 years, Miss Orange has been the face of the city.  Starting in 2023, her presence will be more pervasive with some changes in the Miss Oran ... More

When Pat Buttress first moved to Orange in 1976, she kept hearing about the value of joining the Orange Rotary Club.  Her demanding schedule as a public affairs professional prevented her from in ... More

Some of Old Towne’s most fascinating structures from the last century will be on full display when the Historic Home Tour returns after an extended absence. “Old Towne Preservation Associ ... More

Alex Romero and Ly Nguyen (front) display some of their offerings at Orange Circle Optometry.  The husband-and-wife team rely on their cadre of assistants to ensure the office runs smoothly. &nbs ... More
Orange Review © 2023