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New Economic Forecast From CLU Paints Grim Picture For California, United States

Posted on Thursday, September 27, 2012 12:05am

A new economic forecast by experts at a South Coast university is predicting continued extremely slow growth for the U-S, and for California.

The California Lutheran University Center for Economic Research and Forecasting says the gross domestic product’s growth will only be only around 1.5% for the next few quarters, with a continued weak job market. The economists say California’s growth outlook is even grimmer.

CLU forecasters say we could also see a continued drop in home prices.

The project’s Executive Director, Dr. Bill Watkins, says continuing efforts by the federal reserve to bolster the economy are failing, and that the Fed has run out of ways to try to pump up growth at this time.

The findings are a part of the Center’s release today of its third quarter California, and U.S. economic forecasts.

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