2012’s Q1 Expects Strong Growth For Orange County
With just a few days into the 2012 New Year, Orange County real estate is ready to run forward and with many business professionals, real estate brokers and tenant representatives alike all routing for a positive road ahead, the question is still a heavy one.
Recently reported in the Orange County Business Journal, statistics regarding areas of commercial real estate in Orange County and other business areas popular to the community, there was a joint consensus of ‘high hopes’ amongst local executives when asked about industry goals and objectives, expectations, and performances for 2012’s Q1.
According to a survey conducted by Cal State Fullerton consisting of 88 local business owners, executives, professionals, and managers, expectations for 2012 show a strong expectation of local economic growth with 90% of business executives and owners stating they expect business to improve or remain the same in the first quarter; placing a 67% increase of growth over the previous quarter.
Mihaylo College of Business Economics’s Dean, Anil Puri, states, “There is a definite change in the business sentiment from the end of the year.” How industry professionals will come to define the change, only time will tell. One significant indicator should an overall economic rise in levels of manufacturing and consumer spending during the months of November and mid-December just last year. With reports showing the lowest of claims since 2008 combined with the highest index in eight months shown by the most recent Conference Board’s Consumer Confidence report, it’s easier to see why the executive professionals and business owners are forecasting positive performances for 2012.
For ORION, as the local economy continues to find its way back, continual reporting, evaluations, and future estimates will continue across both the commercial real estate for all orange county and what that means for the current, and or future, Orange County office space for lease. It is important to remain a leading industry professional connection as team members provide tenant representation throughout the areas of real estate in Orange County and as each new day brings new performance reports, as will ORION continue to bring new updates on how 2012’s road ahead is seen.