Report Sees More Hard Times Ahead for State

Summary

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California's economy will be weighed down by the national recession until late 2009 and will begin to recover as construction rebounds and consumers start spending again, according to a UCLA Anderson forecast to be released today.

The new quarterly forecast is the gloomiest in at least four years from Anderson economists, who said the pullback in spending by worried consumers - which they called "the spectacular panic of 2008" - triggered a nose dive in employment.

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Report Sees More Hard Times Ahead for State

"The news from the economy is bad. The recession that we had previously hoped to avoid is now with us in full gale force," David Shulma...

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