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Follow on Google News | LAEDC Says Unfavorable Trends for SoCal’s Important International TradeKey measures of activity will decline again in 2009, but a modest recovery will get underway in 2010, according to the LAEDC
By: George Mc Quade “The number of containers moved at the ports of Los Angeles and Long Beach in 2009 will drop by 13.5 percent, while the total value of two-way trade through the Los Angeles Customs District should fall by 15.8 percent to $300 billion,” said Nancy Sidhu. Ph.D., the LAEDC’s chief economist. “2008 was a year full of unhappy surprises for the international trade industry,” continued Sidhu. “The industry saw employment fall by 9.3 percent, or 46,000 jobs, while industrial vacancy rates spiked up to 9.9 percent at year-end 2008 in the Riverside-San Bernardino area.” The latter had been a hotbed of new construction, much of it on speculation that international trade in the region would continue to boom. Both the ocean shipping industry and railroads have been hammered by the downturn with a lot of equipment pulled out of service. Some of the key findings of the LAEDC and full report can be found at: http://tinyurl.com/ # # # MAYO Communications is a full service public relations firm based in LA with offices in San Diego, NY and Bern, Switzerland offering media relations, media training. "We don't guarantee media, we just get it!" End
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