The national economic slowdown will hold back California's recovery next year, but Sacramento should continue to make progress.
That's the gist of the latest quarterly outlook from the University of the Pacific's Business Forecasting Center, released Wednesday.
UOP said California's economic growth "will slow marginally" in 2013. Job growth, which has been running at 1.8 percent a year in 2012, will slow to 1.6 percent in 2013.
"The gain from gradual improvements in housing is being offset by a slowdown in exports and reduced government support for the recovery," said economist Jeff Michael in a prepared statement.
Sacramento's economy, which came late to the recovery, should actually pick up steam in 2013, UOP predicted. Job growth should improve from 1.3 percent a year to 1.6 percent. The region's unemployment rate should fall from 9.7 percent last month to 9 percent by 2014.
Distributed by MCT Information Services
Most Popular Stories
- Michael Jackson, Freddie Mercury on Previously Unreleased Queen Cut
- 10 Things to Know About Alibaba
- Five Steps to Protect Yourself from Data Breaches
- Concur Sold to SAP for $8.3B
- Chrysler Recalls Nearly 189,000 SUVs
- Federal Probe Finds Christie Did Not Order 'Bridgegate'
- Intruder Gets into White House
- HCL America Adding 1,200 IT Jobs
- Longtime Unemployed to Get Help in Las Vegas
- Medical Mfg. Jobs Coming to Dayton