LOS ANGELES – (INT) – California’s economy will likely experience a full year of subpar growth.

UCLA’s Anderson Forecast issued Thursday (October 24th) said it’s the result of weaknesses in specific sectors of the economy, evidenced by the state’s high unemployment rate, which reached 5.3% in August.

Economists noted that in 2023, California’s GDP growth was running at an annual compound rate that outpaced all but three states.

The economists predicted that the nation’s growth rate is not expected to accelerate until after the presidential election in November.

Story Date: November 11, 2024