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Economic activity in the Twelfth District expanded at a moderate pace during the reporting period of late November through late December. Price inflation was subdued for most final goods and services, and upward wage pressures were modest overall. On balance, holiday retail sales increased relative to the year earlier. Demand for business and consumer services edged up. District manufacturing activity advanced. Output in agricultural and resource-related industries expanded. Demand for residential real estate climbed further, and commercial real estate activity improved. Reports from financial institutions indicated that loan demand increased.

SACRAMENTO – Committing to “pay down our debts and remember the lessons of history,” Governor Edmund G. Brown Jr. today delivered his annual State of the State address, highlighting California’s comeback while vowing to establish a solid rainy day fund to help maintain the state’s fiscal stability.

With California facing water shortfalls in the driest year in recorded state history, Governor Edmund G. Brown Jr. today proclaimed a State of Emergency and directed state officials to take all necessary actions to prepare for these drought conditions.

Democrats in California needed to pass cap and trade to find out what’s in it. At least that’s the take-away from state Senate president Darrell Steinberg’s epiphany in the Los Angeles Times this week.

The EU’s reputation as a model of environmental responsibility may soon be history. The European Commission wants to forgo ambitious climate protection goals and pave the way for fracking — jeopardizing Germany’s touted energy revolution in the process.

. . . San Francisco and Houston are North America’s “emerging” global cities. They are also rival representative champions and exemplars of two models of civic development. San Francisco is the world’s technology capital; focused on the highest levels of the economic food chain; paragon of the new, intangible economy; and promoter environmental values and compact development.  Houston is the closest thing to American laissez-faire; unabashed embracer of the old economy of tangible stuff, including unfashionable, but highly profitable, industries like oil, chemicals, and shipping.

The National Federation of Independent Business’ monthly index of small business indicators gained 1.4 points in December to hit 93.9. That’s back to where it was this summer, but 6 points below the pre-recession average, according to NFIB.

An upcoming economic report predicts Sacramento will see modest job growth largely confined to the service sector job in 2014. Added pressure will be on hospitals due to implementation of the Affordable Care Act, and builders will continue to be hit by a cooling of the home purchasing frenzy that occurred within the last couple of years.

The economic forecasts were prepared in November 2013 by the California Department of Finance for the Governor’s Proposed Budget.

Tables: http://www.dof.ca.gov/HTML/FS_DATA/LatestEconData/FS_Forecasts.htm

Los Angeles is barely treading water while the rest of the world is moving forward. We risk falling further behind in adapting to the realities of the 21st century and becoming a City in decline.

January 8, 2014 marks the 50th anniversary of President Lyndon B. Johnson’s declaration of an unconditional War on Poverty, made during his 1964 State of the Union address. Although poverty remains a reality for millions of Californians, the last half-century has shown the key role that public policies can play in reducing poverty and fostering economic security. With state policymakers set to begin crafting a new state budget, this Budget Brief looks at poverty in the Golden State and discusses some ways that policymakers can help reduce economic hardship and expand pathways to opportunity and advancement.

This summary report on the 2013 Summit lays out the background behind the Summit and gives a roundup of Summit commitments, a collection of some of the best thinking from across the state about how to drive sustainable economic growth in California.

Allied Van Lines moved 37 percent more families out countywide than in last year, down from 43 percent net emigration in 2012. U-Haul officials, who observed 5.9 percent net immigration to the city of San Diego in 2012, said this reversed last year to 1.6 percent more customers moving out in 2013.

The Los Angeles 2020 Commission, created by the City Council, didn’t mince words in its report, “A Time for Truth,” declaring, “Los Angeles is barely treading water while the rest of the world is moving forward. We risk falling further behind in adapting to the realities of the 21st century and becoming a city in decline.”

Gov. Jerry Brown said Monday his administration would soon declare that California is officially in the midst of a drought.