RSM-sponsored UCLA Anderson Forecast Provides Economic Outlook for 2020
RSM US LLP (“RSM”) – the nation’s leading provider of audit, tax and consulting services focused on the middle market – is pleased to sponsor the UCLA Anderson Forecast in its fourth quarterly report of 2019. The recently released report provides a 2020 economic and financial outlook for California and the nation.
Details of the report were unveiled during a Dec. 4 event at the UCLA Anderson School, where experts with UCLA Anderson shared insights around the Forecast. RSM Chief Economist Joe Brusuelas also participated in an expert panel discussion focused on the volatility of financial markets.
Topics addressed during the event included:
- A deep dive into what a recession is and who needs to worry about it,
- Prospects for a recession in the near future,
- Whether the 10-year bull market in stocks continue into the new decade,
- Whether interest rates have bottomed out or if they’re headed for zero,
- Whether California is still growing,
- When the housing market might recover, and
- Whether California can solve the housing affordability crisis in the next few years.
“We’re entering into a very interesting time for the U.S. economy,” said Brusuelas. “With 2020 being an election year and with the manufacturing sector already in a recession, we’re seeing an overall decline in middle market business sentiment as global economic growth slows, the manufacturing sector continues to contract and tariffs affect business results. This aligns with what we found in the most recent RSM US Middle Market Business Index, which showed that 54% of middle market leaders do not expect the economy to improve over the coming months. Following the longest expansion in the country’s history, the economy is coming into a fraught new phase due to economic and political uncertainty.”
“With the uncertainty we’re seeing as we move into an election year, the December Forecast will provide a perspective on the outlook for financial markets,” said Dr. Jerry Nickelsburg, Director of the UCLA Anderson Forecast. “These takeaways will be important for future business decisions and we’re looking forward to hearing from a panel of industry and academic experts who will delve into the key issues for 2020.”
As announced in June 2019, as a strategic partner, RSM provides essential support for the Forecast conferences, publications and research, and helps maintain important connections to the business community.
Through the partnership, RSM gains exposure to the quarterly Forecast for the economies of California and the United States, which has been recognized as one of the most accurate and unbiased economic reports nationwide. As a Forecast sponsor, RSM also has the opportunity to meet with a cross-section of business, government and academic decision-makers from across the nation.
To learn more about the UCLA Anderson Forecast, visit the UCLA Anderson website.
About UCLA Anderson Forecast
UCLA Anderson Forecast is one of the most widely watched and often-cited economic outlooks for California and the nation, and was unique in predicting both the seriousness of the early-1990s downturn in California and the strength of the state’s rebound since 1993. More recently, the Forecast was credited as the first major U.S. economic forecasting group to declare the recession of 2001. Visit UCLA Anderson Forecast at uclaforecast.com.
About RSM US LLP
RSM’s purpose is to deliver the power of being understood to our clients, colleagues and communities through world-class audit, tax and consulting services focused on middle market businesses. The clients we serve are the engine of global commerce and economic growth, and we are focused on developing leading professionals and services to meet their evolving needs in today’s ever-changing business environment.
RSM US LLP is the U.S. member of RSM International, a global network of independent audit, tax and consulting firms with 48,000 people across 120 countries. For more information, visit rsmus.com, like us on Facebook, follow us on Twitter and/or connect with us on LinkedIn.