California Economy Has Slowed But Is Poised For Growth

While the Bay Area economy remains robust, California has gotten stuck in a slowdown, according to the latest report from the closely watched UCLA Anderson Forecast. But it’s not time to push the panic button.

The sluggish pace of the Golden State’s recovery, caused in part by Washington’s budget struggles and weak economies overseas, is temporary and doesn’t signal a contraction or drastic slump, the report says.

“We began slowing down near the end of 2012, and that slowdown will last a while during 2013,” said Jerry Nickelsburg, a senior economist with the Anderson Forecast. “You will be getting an upswing in jobs by the end of 2014 and into 2015.”