Big Towns Don't Cry: L.A.'s Economic Pain Continues
Only last May the respected L.A. Economic Development Corp. was cautiously predicting a slight upturn in the local economy by year's end, with a more pronounced recovery following in 2010. But that was then. In its latest study for 2009-2010, "Mid-Year Economic Forecast & Industry Outlook," LAEDC, which functions as a kind of capitalist think tank and chamber of commerce, now says the city and county are in for more bad times. The good news? According to the study, which was released today, inflation's no longer a problem and will decline 0.8 percent this year. See LAEDC's report card for selected industries below.
LA Economic Development Corp.
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