Survey Says CA Economy Downshifting
September 28, 2006 - California's slowing housing market will keep dragging down the state's economy next year, but will not lead to a recession, says the latest economic forecast from the UCLA Anderson School of Management. The hardest-hit industries are home construction, home sales and home loan financing. The Anderson Forecast predicts California will run into an economic speed bump about the same time as the national economy hits a rough patch. Among other things, UCLA economist Ryan Ratcliff expects 100,000 California construction jobs will be lost before things bottom out in 2008.