UCLA Forecast: CA Economy Keeps Growing, but Likely Slowing in Coming Years

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Thanks in part to the tech industry and anticipated defense spending, California’s economy will likely continue improving as the year nears an end, but national economic doldrums have tempered expectations in the state for the next two years, according to a UCLA forecast released Wednesday.

The UCLA Anderson Forecast for California paints a generally positive picture for the state in spite of nationwide economic concerns, citing continued gains in gross domestic product.

“Overall, the data reflect broad-based hiring with leisure and hospitality, health care and social services, technology and construction posting solid gains,” UCLA Anderson Forecast Director Jerry Nickelsburg wrote in his economic outlook for the state. “Increases in defense spending and the continued demand for tech will likely keep the economy growing.”

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