Economists are feeling rosy about California’s economy. A new forecast from the UCLA Anderson Business School offers two scenarios for the Golden State, one if there is a recession and one if there is not. Despite worries, no recession has developed in the last nine months and none appears imminent according to the forecast. The hopeful outlook is driven by strong employment numbers and a less-than-dramatic response to recent interest rate changes. Forecasters say California’s commitment to green technology and AI “should keep California growing faster than the U.S.” Price increases are also expected to slow in the next two years. There are threats to the optimism, including our own national election and any possible changes in U.S. economic policy plus other geopolitical events worldwide.
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