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California Exports Tumble, Beacon Economics Predicts Return to “Relative Normalcy” Q3

Beacon Economics reports exports of California goods took a wholly expected tumble in March. The research group analyzed the latest U.S. trade statistics from the U.S. Census Bureau and found California businesses shipped a total of $13.57 billion in merchandise abroad in March, a nominal 12.7% decline from the $15.55 billion in exports recorded in March 2019.

Shipments of manufactured products by California firms were down 11.8% to $8.86 billion from $10.05 billion one year earlier, points out Beacon Economics. Similarly, exports of non-manufactured goods, which mainly encompasses the Golden State’s agricultural products and raw materials, were off by 6.1% to $1.86 billion from $1.98 billion.

Beacon Economics notes, as has been the case in the past several months, the state’s export numbers were further pulled down by a 19.1% drop in re-exports, to $2.84 billion from $3.51 billion.

Beacon Economics’ Christopher Thornberg says, “The impact of the pandemic on global demand for California- produced goods is clear in the March data and will likely be substantially worse in April when those numbers are released. These forces will inevitably start to hurt labor markets later in the year until the global situation starts to improve, and while that is some months out, data suggests the public health mandates that have shut down such a large part of the economy are helping to reduce the spread of the virus and most nations are seeing declines in the number of new cases. As long as those trends continue, we anticipate relative normalcy to return in the 3rd quarter of this year.”

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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