California recovering

Despite a housing bubble, UCLA economists expect California to grow in 2005:

Yet the fallout from the bubble in California won’t be devastating, according to the UCLA Anderson Forecast. Indeed, the Golden State’s economy will expand at a faster clip than the nation’s in 2005, thanks in part to a recovering Bay Area, the widely watched forecast says.

All in all, next year is shaping up as “solid but not spectacular” for California, said Christopher Thornberg, a UCLA Anderson Forecast senior economist and author of its state outlook.

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