San Diego leaders received actionable economic analysis recommendation on how to move forward in an ever-changing economy at the 2011 Fermanian Business & Economic Institute's (FBEI) annual economic outlook forum, "Sustaining the Expansion." Dr. Lynn Reaser, FBEI's chief economist, presented her economic forecast for the national, state, and regional economy.
In addition, George Chamberlin, executive editor of the San Diego Daily Transcript, chaired a panel discussion of industry leaders, including Cyrus Mirsaidi, CEO of Molecular Response; Mary Lewis, CFO of the City of San Diego; and Tom Wetherald, director of business development & strategic planning for General Dynamics NASSCO. They each gave an analysis of their organizations and industries, particularly relating to the San Diego economy.
According to the outlook, 2011 will be a year in which...
- The U.S. economy gains momentum, with the private sector seizing the growth baton.
- Job growth will be double the pace of 2010, although the drop in the unemployment rate will be slow.
- High commodity prices will affect both consumers and businesses, but overall inflation will remain in check.
- Interest rates will move higher and stocks will outperform bonds.
- California will parallel the nation with better economic performance in 2011.
- San Diego will see moderate, but broad-based, gains.
But we also believe that...
- All levels of government—federal, state, and local—must address budget deficits in order to achieve a sustainable economic expansion.
To read an electronic version of the entire economic outlook publication, click here.
To learn more about FBEI events, click here.