By Andrew Asch | December 12, 2019
On Dec. 4, the influential UCLA Anderson School of Management raised its 2020 forecast for the U.S. and California economies from 1 percent real growth to 1.7 percent due to low unemployment and high consumer confidence and spending.
Over the course of 2019, financial uncertainty subsided a bit as consumers set new records on spending and economic forecasters revised initial predictions in favor of increased optimism through the end of the year. Despite a continuing conflict with China and potential tariff issues with other trade partners, the United States economy saw bright spots.
During 2019, a consistent trend within the apparel industry took shape not just on the fashion front but also the business end of garment making.
As Republic Business Credit continues its California expansion, the financing-and-factoring firm announced its acquisition of factoring and asset-based lender Continental Business Credit as well as Fast A/R Funding.
Following its approval by the Office of the Comptroller of the Currency, New York–headquartered financial-holding company CIT Group Inc. announced that it would complete the acquisition of Mutual of Omaha Bank, which is based in Omaha, Neb.
The U.S. and California economies are slowing down, according to the UCLA Anderson Forecast titled “The Year of Living Dangerously,” which was released Sept. 26, but the slowdown has bright points that other economies would envy.
Industry Focus: Finance—How would you advise your apparel-industry clients to prepare for a potential recession?
Around the globe, trusted economic forecasters are predicting a slowdown over the next year, yet there is disparity regarding whether they feel a recession will occur. As previous spans of negative economic growth have shown, the most effective method of navigating through recessionary periods is to prepare in advance, expecting the worst while hoping for the best.
During the struggle to secure a dwindling sense of brand loyalty among Millennial and Generation Z consumers, brands must devise a comprehensive strategy to tell their stories.
The U.S. economy got some mixed news this week. First-time unemployment claims rose this week, according to the U.S. Department of Labor. But median weekly earnings of full-time, salaried workers also increased, according to a statement from the U.S. Bureau of Labor Statistics.
With the United States entering into a historic economic expansion period, tariffs and the threat of more tariffs on Chinese imports could be the bump in the road to financial good times.
Luxury reseller The RealReal filed documents with the Securities and Exchange Commission to prepare for an initial public offering.
As the economists putting out the UCLA Anderson Forecast were writing their quarterly report released on June 5, the Trump administration had not yet announced its 5 percent tariff on all Mexican goods being imported into the country.
Revolve, the online retailer planning to go public soon with an IPO, said in recent filings with the Securities and Exchange Commission that its revenues in 2018 were $498.7 million, up from nearly $400 million the previous year.
The U.S. economy is expected to cruise along at a moderate speed this year after whizzing past the speed limit last year.
The formula for doing business is slowly changing this year. While interest rates were rising at a steady pace last year, it’s a different story this year. The Federal Reserve hasn’t raised benchmark interest rates in 2019 and may even lower them, which is good news for apparel manufacturers and retailers.