Posted by: gmcquade | May 13, 2009

LAEDC Study Sees Rough Water Ahead for Trade

 

Founding Economist Jack Kyser, LAEDC Kyser Research Center is interviewed by CNN's Jim Roop about trade. Photo by George Mc Quyade

Founding Economist Jack Kyser, LAEDC Kyser Research Center is interviewed by CNN's Jim Roop about trade. Photo by George Mc Quyade

Key measures of activity will decline again in 2009, but a modest recovery  will get underway in 2010, according to the LAEDC

 ***

LOS ANGELES — Southern California’s key international trade industry will see more declines in activity during 2009 after a dismal performance in 2008, according to the International Trade Trends & Impacts report prepared annually by the Los Angeles County Economic Development Corporation (LAEDC).  

“The number of containers moved at the ports of Los Angeles and Long Beach in 2009 will drop by 13.5 percent, while the total value of two-way trade through the Los Angeles Customs District should fall by 15.8 percent to $300 billion,” said Nancy Sidhu. Ph.D., the LAEDC’s chief economist. 

“2008 was a year full of unhappy surprises for the international trade industry,” continued Sidhu.  “The industry saw employment fall by 9.3 percent, or 46,000 jobs, while industrial vacancy rates spiked up to 9.9 percent at year-end 2008 in the Riverside-San Bernardino area.”  

The latter had been a hotbed of new construction, much of it on speculation that international trade in the region would continue to boom.  Both the ocean shipping industry and railroads have been hammered by the downturn with a lot of equipment pulled out of service.  Some of the key findings of the LAEDC and full report can be found at: http://tinyurl.com/po4qkd

Advertisements

Responses

  1. […] more here:  LAEDC Study Sees Rough Water Ahead for Trade Bookmark […]


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Categories

%d bloggers like this: