Author: Scott Anderson

A Fragile Manufacturing Recovery

Scott Anderson
Chief Economist

With the onset of the pandemic, the manufacturing and service sectors were both hit incredibly hard. According to the Federal Reserve, U.S. manufacturing production declined at a 47% annualized rate in the second quarter, while the latest GDP report revealed an unprecedented 43.1% annualized decline in real consumer spending on consumer services in the second quarter.

Read More ›

California Economic Outlook – September 2020

Scott Anderson
Chief Economist

Economic growth has resumed and net job loss has ended in California after a sharp and unprecedented decline in March and April. But despite three consecutive months of solid increases in economic activity and jobs, the state has regained less than one-third (31.1%) of the over 2.6 million jobs lost in March and April.

Read More ›

Another Downside Risk Emerges

Scott Anderson
Chief Economist

Congress has just five days to pass another rescue aid package before they are off to campaign for the November election, leaving very little time to overcome an impasse that has unexpectedly stalled the measure in Congress.

Read More ›

Too Early to Worry About Higher Inflation

Scott Anderson
Chief Economist

The fear of higher inflation has captured the imagination of consumers and investors in recent months.

After a very brief concern over deflation in March as the pandemic took hold, consumers have noticed rapidly rising prices at grocery stores, auto dealerships, health care providers, and at the gasoline pump, just to name a few categories.

Read More ›