Provost Emeritus and Woods Center Director Anil Puri and Associate Professor of Economics and Woods Center Co-Director Mira Farka examined the outlook for the Orange County, U.S. and global economies at the 24th Annual Economic Forecast, providing business leaders and academics with insight into the economy’s performance over the next three years.
Despite some turbulent times in the stock market early in 2018, the prolonged expansion from the depths of the Great Recession has continued this year. This matters greatly for American workers, as unemployment has tumbled to 3.7%, the lowest rate since 1969, and job and wage growth has continued apace.
Gross domestic product (GDP) – on both the national and local levels – has continued to expand, and the bull market that began in 2009 has now broken the record set in the 1990s to become the longest bull market in the post-World War II era. This has occurred despite such challenges as the worst political and social instability in decades and the threat of a trade war between the world’s economic superpowers.
Against this backdrop of steady and mature growth coupled with continued headwinds, Cal State Fullerton Provost Emeritus and Woods Center Director Anil Puri and Mihaylo College Associate Professor of Economics and Woods Center Co-Director Mira Farka presented their annual report on the state and future of the economy. This conference was held at the Hotel Irvine on Oct. 25, an event attended by hundreds of Orange County business and community leaders and academic minds. Read More