UCLA Anderson Forecast’s second quarterly report in 2016 for the United States calls for continued slow but steady GDP growth in the two percent range. As forecast in the spring report, national economic growth will be driven by increases in consumer spending and housing, along with an end to the inventory correction currently underway.
In California, the forecast anticipates continued steady gains in employment through 2018 and a steady decrease in the unemployment rate over the next two years. California’s unemployment rate is expected to be insignificantly different from the U.S. rate at 5.1 percent by the end of the forecast period.
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