The San Joaquin Valley economy has made progress toward pre-recession levels in the past year and will continue to improve in 2014 and 2015, according to a report from Gökçe Soydemir, the CSU Stanislaus Foster Farms Endowed Professor of Business Economics.
In his third annual Business Forecast Report, Soydemir says that rising consumer confidence and wealth have helped increase purchases of goods and services for individual or household use, leading to greater national demand for wholesale, manufacturing and farm-related goods from the Valley.
Highlights of the report, which can be found at http://www.csustan.edu/sjvbfr, include:
The Business Forecast Report provides projections for the San Joaquin Valley labor market; regional housing conditions; prices and inflation; banks and other depository institutions; and capital markets.
Soydemir and his team use a unique forecasting model that produces lower and upper statistical confidence bands; actual results are expected to fall within this range. Soydemir looks for data that signal “turning points” and offer clues to future performance.
To date, the reports have proven to be about 94 percent accurate, providing a highly reliable forecasting tool for business owners and decision makers.