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September 2020 Economic Outlook Highlights

UCLA Anderson Forecast cautiously projects ‘better than expected outcome’

Los Angeles (Sept. 30, 2020) — Just six months ago, the UCLA Anderson Forecast issued a bleak prognosis for the national economy, anticipating the impact of what was still being called the COVID-19 epidemic. 


The Post-COVID Economy

Following a 31.7% annualized decline in real GDP during
the April-June time period (9.1% non-annualized), we
are now forecasting annualized growth of 28.3% for the
July-September time period (6.4% non-annualized). 

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September 2020 Economic Outlook

The U.S. economy continues to move through the COVID-19 pandemic and the deepest economic decline since the Great Depression. After a partial reopening of the economy, labor markets remain weak, bankruptcies are increasing, virus cases are higher than they were in Q2, and there is renewed concern about an apparent recovery being muted at best. In this environment, technology companies reported strong sales and profits, and the NASDAQ is at a record high. The September UCLA Anderson Forecast will present its updated U.S. and California forecasts and discuss, in conjunction with the Easton Technology Management Center and the Fink Center for Finance & Investments, how the boom in technology will lead the coming expansion and its impact on society and inequality.

Key Topics
  • Bankruptcies are here and increasing.
  • Nasdaq is at an all-time high.
  • Are we in a long term environment of near-zero interest rates?
  • What are the dangers of inflation from fiscal and monetary policy?
  • Will the economy falter and extend the recession-the W scenario?
  • When and how will enough jobs be created to absorb the huge increase in the unemployed?
  • How are recent government actions (such as unemployment insurance payment increases and the Paycheck Protection Program) affecting California and the outlook for the state?
  • How has COVID-19 altered venture investing activities?
  • How will technology-based investments impact the California Economy?

UCLA Anderson Forecast for the Nation and California

  • Jerry Nickelsburg, Ph.D., Director, UCLA Anderson Forecast
  • Edward Leamer, Ph.D., Professor Emeritus, UCLA Anderson
  • William Yu, Ph.D., Economist, UCLA Anderson Forecast
  • Leila Bengali, Ph.D., Economist, UCLA Anderson Forecast
  • Leo Feler, Senior Economist, UCLA Anderson Forecast
  • Q + A with the Forecast Team

Will post-COVID19 Pandemic Finance Look Different for Tech?

A conversation with Dana Settle, Co-Founder and Partner, Greycroft, hosted by Lori Santikian

Technology Innovation Opportunities in an Era of COVID-1

A conversation with Scott Brady, Managing Partner, Innovation Endeavors, hosted by Terry Kramer

Tech, Inequality and Post-COVID19 Los Angeles

A conversation with Damien Goodmon, Founder and Executive Director, Crenshaw Subway Coalition hosted by Jerry Nickelsburg