Leading business forecasters expect California to avoid recession in 2001 but predict that economic growth will slow substantially from this year’s rapid pace. The 2001 forecasts at right reflect these lowered expectations. For instance, the consensus forecast of a 2.5% increase in the number of jobs in 2001 is a decline from this year’s 3.5% growth rate. And some forecasters are saying the turmoil in the state’s energy markets, the downturn in tech spending and other problems are clouding California’s outlook for 2001.
Source: Western Blue Chip Economic Forecast at Arizona State University