More than half of Bay Area residents think the region will experience a significant economic downturn within the next five years, according to a survey released Tuesday by the Bay Area Council.
About 52 percent of people surveyed by the council expect the region’s economy to stumble within that time frame, while another 7 percent say a downturn could hit after five years. Twenty percent do not anticipate the Bay Area economy to shrink in the foreseeable future.
“On the one hand, people are aware there are a lot of companies moving and expanding in the Bay Area,” said Jim Wunderman, president and chief executive officer of the council, a public policy group representing the region’s business community. “There are also a lot of companies people fear will never reach profitability and as a result, we’ll experience loss of jobs.”
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