Growth in California is slowing, but the tech boom and the sturdy job market in Silicon Valley and the Bay Area should help the state ward off a recession until at least 2018, economic forecasters predicted on Wednesday.
For now, however, a slowdown in the United States economy has begun to affect the economy in California, causing activity to slow in the Golden State, according to the closely watched UCLA Anderson Forecast.
“At least through the end of 2018, we are not forecasting a recession” in California or the U.S., said Jerry Nickelsburg, a senior economist with the Anderson Forecast.
The Anderson economists are confident about this projection despite the staying power of the current economic upturn.
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